Page 18 - BusinessWest August 18, 2025

Trouble in Margaritaville
Contested Estates Can Cause Turmoil Within Families
BY HYMAN G. DARLING, ESQ.
Over the past couple of years, you may have read about all the famous peo-
ple who passed away either with no estate planning documents or perhaps
documents that were not up to date or complete enough to avoid contest.
In the past two months, there have been several notorious people in the news
that are causing lawyers and judges to deal with litigious matters regarding
estates. The first estate was Jimmy Buffett’s. In this brewing legal battle, Jane Buf-
fett (his wife) filed a petition to remove her co-trustee of the marital trust, Jimmy’s
longtime business manager. It was estimated that the estate was worth approxi-
mately $275 million. This trust was to continue for Jane’s lifetime, but she now
alleges that the business manager was charging excessive fees, mismanaged the
trust, and has become adversarial and hostile toward her.
It is unfortunate this has occurred because now the funds are going to be
scrutinized and her legal fees, the trustee’s legal fees, and potentially backup and
independent trustees’ fees will be taken from the trust, thus diminishing the funds
available to Jane.
This situation is not uncommon. Clients often wish to name two or more chil-
dren co-trustees or perhaps powers of attorney, personal representatives (formerly
called executors), or healthcare proxy agents. The clients believe the children
would get along and make decisions together. However, when one decision maker
does not agree with the other, it places the client or their family in a precarious
situation because, if they cannot agree, there is a stalemate until such time as
either a mediator or court makes a decision as to what is correct or who should
make the appropriate decisions.
Some clients feel that the oldest child should serve, some clients feel that the
child who is in business should serve, and others believe they should have an
independent trustee so that this situation does not occur.
Oftentimes, however, the children cannot agree as to what is best for the par-
ent or for the ultimate beneficiaries of the trust. Therefore, it is very important
“It is very important to think clearly
about what will happen if the children
cannot agree. Perhaps the documents
should have a provision stating that,
before litigation ensues, the trustees or
beneficiaries should be forced to mediate
the matter in an attempt to resolve the
conflicts without litigation.”
to think clearly about what will happen if the children cannot agree. Perhaps
the documents should have a provision stating that, before litigation ensues, the
trustees or beneficiaries should be forced to mediate the matter in an attempt to
resolve the conflicts without litigation. Often, once litigation is filed, there is a line
drawn in the sand and no turning back, which causes perpetual disharmony in
the family.
Dollars and Sense
Another significant celebrity in the news is Jeff Bezos, with his prenup and
recent Venice wedding. Since the Ama-
zon founder did not have a prenuptial
agreement with his first wife, it was Estates
Continued on page 21 >>
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