KINDNESS COUNTS The Everyday Magic of Empathy
If you’re still looking for a good New Year’s resolution (or already gave up on your original ones!), try giving more than you take in 2026. Feb. 17 is Random Acts of Kindness Day. Of all the fun and special “days” that fall on the calendar throughout the year, this one is especially significant to me. My parents are super- generous people, and they’ve always encouraged me to do things for others without expecting anything in return. Three years ago, an event in my professional life showed me the power of generosity in a way I had never experienced before. I was attending a dinner meeting for an industry group when its leader, Dennis, suggested an intriguing exercise. He handed everyone in the group two $50 bills and asked us to use them to do something nice for someone randomly and later share our experiences with him. I thought it was a beautiful gesture, but I wasn’t sure how I’d use that $100. I soon found my answer. One day, my daughter Jocelyn and I were in the checkout line at a Dollar Tree when we noticed the woman working behind the counter didn’t appear to be
having a good day. I’m sure she was just getting by on her wages and probably lived paycheck to paycheck as she worked harder than her pay warranted.
This decision was uncommon, as Buffett and his wife had two daughters and an adopted son. Typically, the surviving spouse is named as the sole trustee when they share children with the deceased. Unfortunately, the co-trustee selection also appears to have been misguided, as legal documents suggest that Buffett’s better half doesn’t exactly get along with his former cash confidant. Last year, Jane filed a petition accusing Mozenter of misconduct, claiming that he (among other things) withheld critical financial information, failed to manage trust assets correctly, and collected $1.7 million in fees from a trust that generates $2 million in annual income. Mozenter responded by filing a competing petition, alleging that Buffett’s spouse has interfered in business decisions and acted in her own interests. While the litigation hadn’t been resolved as this newsletter goes to print, it’s safe to say the atmosphere surrounding the ordeal hasn’t been anywhere near the type of peaceful tropical stroll that Buffett envisioned in his famously laid-back lyrics. The lesson here? Always communicate your estate plan clearly with those you’ve assigned roles, and work to ensure that everyone involved can work together effectively to execute your final wishes without conflicts. Please contact us today to review your existing estate plan, especially if reading about Jimmy Buffett’s busted trust has prompted you to reconsider your trustee options. After our transaction, I handed her both $50 bills and said, “I just wanted to give this to you. I hope it helps you in your day!” Her eyes lit up with excitement as she asked me if I was really sure I wanted to give her so much money. I was, so I did. I’m glad Jocelyn, who was 13 at the time, was there to see it. She’s never been a me, me, me type of teenager, but I still wanted her to know the impact she could make on someone by being generous. Whether you give someone an unexpected financial lift or simply hold the door for them, practice random acts of kindness on Feb. 17 and every other day this year. Sometimes, the greatest gift you’ll receive is the ability to give one to someone else.
Margaritaville Mismanagement INSIDE JIMMY BUFFETT’S ESTATE BATTLE
Jimmy Buffett may have been a man of margaritas, but when it came to estate planning, he was apparently as effervescent as an empty glass. By the time he passed away in 2023 at 76, the “Margaritaville” and “Cheeseburger in Paradise” singer had amassed a $275 million fortune through his music (including selling more than 20 million albums) and ventures as a restaurateur. Although he was wise enough to revise his original estate plan in the three- plus decades that followed its initial drafting, the final version of said plan is currently the cause of a contentious court battle. While it’s unclear whether Buffett had discussed his intentions with the affected parties, Buffett assigned his wife, Jane, and his longtime business manager and financial advisor, Richard Mozenter, as co-trustees of his marital trust.
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