"She doesn't want to be in a dispute with her daughter-in-law," Ellen Aguiar's attorney Richard Baron told ABCNews.com. "This is not about power or greed. It's just about preserving the status quo. All she wants to do is find her son and get the conservatorship to protect the assets and her family."
Court documents show that just last month, on May 11, Guma Aguiar had amended his declaration designating primary guardianship over his personal property "in the event of my incapacity" from his wife Jamie Aguiar to his mother.
Jamie Aguiar's attorney condemned Ellen Aguiar's original filing for conservatorship.
"She files motions in courts trying to take over everything while the divers are still out looking for Guma's body," attorney Bill Scherer told the Associated Press. "It's bizarre."
He said that Ellen Aguiar's attempts to gain control of the estate have added to the family's stress about the disappearance.
"[Jamie Aguiar is] hoping that he's had another mental breakdown and that he's out there somewhere and will come walking back when he gets himself stabilized," Scherer told the AP.
Bill Scherer did not respond to request for comment from ABCNews.com today. Baron denounced Scherer's comments.
"For him to say that [Ellen Aguiar] was on a money grab or that was she did was wrong was outrageous," Baron said, insisting that his client is simply trying to "do what Guma would have wanted" and "stop the fighting."
The devoutly Jewish Aguiar is known for being the main sponsor for an elite Israeli soccer team and making multi-million dollar charitable gifts to Jewish organizations, he has also had a number of personal transgressions.
He has been arrested several times, including for drug possession and driving under the influence, according to court records. He is also currently on probation after pleading no contest to domestic violence charges.
In 2010, he was involuntarily admitted to an Israeli psychiatric hospital after his erratic behavior.
Aguiar made his fortune in 2006 when he and his uncle Thomas Kaplan sold their Texas-based energy company for a reported $2.5 billion. The two have been in a messy legal battle since 2009 over the division of the money.
They went on to say that he was the victim of what amounted to "psychological terrorism."
In 2011, he was appointed an emergency guardian after his wife and mother petitioned a Miami-Dade judge for one.
The couple has four children, the youngest of whom is 10 months old. They also have a 3-year-old son, a 4-year-old daughter and a 7-year-old son.
A hearing on Thursday at the Broward County court has been scheduled to appoint conservatorship.