The recent dispute in the estate of music legend Jimmy Buffett offers more than just headlines – it provides a powerful reminder of how important it is to choose the right people to manage your affairs after you’re gone. Jimmy Buffett’s widow, Jane Buffett, and one of his estate’s co-trustees, Richard Mozenter, have both filed legal petitions over the handling of a marital trust that was intended to benefit Jane. While the legal details are still unfolding, the core issue is a conflict between co-trustees.

Why This Matters to You

While most of us don’t have estates in the hundreds of millions, the principles are the same whether you’re passing on a family business, a home, or a legacy. If your estate plan includes a trust, name one or more trustees. That decision is more important than many people realize.

What Went Wrong?

In Jimmy Buffett’s estate, the co-trustees are at odds about how to manage the marital trust. The surviving spouse has concerns about the co-trustee’s behavior. The co-trustee says she’s interfering with his duties. Now both sides are in court. This is the kind of situation a well-crafted estate plan is supposed to prevent.

At Fausone & Grysko, PLC, we work hard to help our clients avoid these kinds of disputes, which starts with good planning, smart drafting, and experienced legal guidance.

Four Key Lessons from the Buffett Estate Case

1. Be Thoughtful About Who You Choose as Trustee.

   Just because someone is close to you doesn’t mean they’re the best choice to manage your trust. A trustee should be responsible, neutral, and able to work well with others, especially if you’re naming more than one.

2. Avoid Naming Co-Trustees Unless Absolutely Necessary.

   While having two trustees may seem like a good way to ensure balance, it often leads to conflict. Unless there’s a compelling reason, we often advise against co-trustees – especially in blended families or high-emotion situations.

3. Plan for Disagreements Ahead of Time.

   We help our clients include deadlock provisions and clear decision-making rules in their trust documents, so trustees don’t end up in court trying to guess your intentions.

4. Consider a Neutral or Professional Trustee.

   Sometimes, the best way to avoid family drama is to bring in a third party. A neutral or professional trustee (such as a corporate trustee or trusted advisor) can help ensure fairness and reduce conflict.

You Don’t Have to Be Famous to Need a Solid Estate Plan

Jimmy Buffett’s estate may be big and complex, but every family deserves the peace of mind that comes with a clear, legally sound plan. If you haven’t reviewed your estate plan in a while – or if you’ve never created one – we’re here to help.

At Fausone & Grysko, PLC, we bring over 50 years of estate planning experience to families and individuals in Western Wayne County and surrounding communities. We believe that estate planning is more than just documents – it’s about protecting your loved ones and your legacy.

Ready to Start the Conversation?

Contact us today to schedule a consultation. We’ll help you design a plan that works – and one that works even after you’re gone.

About the Author

Lisa A. Stempien, esq. is an experienced estate planning attorney guiding Michigan families and business owners through complex planning and probate issues. She practices in Western Wayne County and is committed to providing compassionate, strategic solutions for generational wealth transfer.