Jimmy Buffett, the singer, songwriter and entrepreneur with an island-themed business empire, who died last month at age 76, left his wife in charge of his estate, according to a copy of his will, which contains few details about the scope of his assets or other beneficiaries.
Buffett, whose hit “Margaritaville” became popular in 1977 and now serves as a franchise brand for his restaurants, hotel chain and others, used his will to transfer the majority of his assets into a revocable trust he created in 1990. But in keeping with Florida law, the will, which Its filing last month in Palm Beach County, Florida, does not contain a public inventory of his assets and does not disclose any of James W. Buffett’s 1990 trust holdings.
His wife, Jane S., was commissioned. Buffett, for more than 40 years, has been able to carry out his wishes after appointing her as personal representative, or executor, of the estate. The will names his business partner, John L. Cohlan, CEO of Margaritaville Holdings, to step in if necessary.
In addition to his fan base of so-called Parrot Heads who became loyal to his easygoing soul and his songs of pirates and beach bums, Mr. Buffett built a sprawling business during his career that has expanded to include about 150 restaurants, casinos and cruises. . Forbes magazine reported this year that Mr. Buffett had become a billionaire, noting that he owns shares in the Berkshire Hathaway group of companies, which is led by Warren Buffett, who is a friend of the musician, but not a relative of him. (“Tell Jimmy to keep me in his will!”). Forbes report Warren Buffett, one of the richest people in the world, was quoted as saying. The magazine reported that Jimmy Buffett owns several homes and planes, in addition to a yacht.
Mr. Buffett died at his home in Sag Harbor, New York, on Long Island, but his estate made probate in Palm Beach County, where he had long resided. He signed the will in 2017.
It is not yet clear how Mr. Buffett’s business was affected by his death: whether its success depended on its living founder, who was… Still performing Until this year, or if he can continue at the same level based on his legacy and established brand.
Mr. Buffett will cede his intellectual property, including the rights to his music, to his trust as well. The report indicates that he may have a separate list for the distribution of his possessions, including clothing and furniture, and allocate his residential properties expressly to his wife. The singer who died and Merkel cell carcinoma, a rare and aggressive form of skin cancer, from which two daughters, a son, two grandchildren and two sisters survived.
“Directing everything to your trust provides you with a great deal of privacy,” said Sarah Butters, a Florida estate attorney. “There are a million celebrities who have made mistakes in their wills, but this is not one of them.”
Joe Capozzi contributed reporting.
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