Lower than a 12 months after submitting their preliminary lawsuit, Tony Bennett’s two daughters, Johanna and Antonia Bennett, slapped their brother, Danny, with one more lawsuit over the late singer’s property administration. The brand new lawsuit, filed in New York State Courtroom, alleges mismanagement of household funds following Tony’s dying in 2023.
In line with claims filed by the Bennett sisters, Tony’s property plan “expressly offers that all 4 kids be handled equally, together with by means of provisions to equalize every youngster primarily based on advantages Tony conferred on them throughout his life.” Danny, the eldest of the 4, was named trustee of Tony’s belief and served as his longtime supervisor.
After beforehand accusing Danny of withholding details about Tony’s belongings and failing to account for gross sales of his music catalog and picture rights proceeds, the brand new lawsuit additionally accuses the brother of breach of fiduciary obligation and unjust enrichment earlier than and after their father’s dying. It requires his elimination as trustee and seeks an unspecified quantity in damages.
Breach of Fiduciary Responsibility?
Paperwork reveal that the Bennett sisters allege Danny took benefit of Tony’s diminished capability (Tony was battling Alzheimer’s earlier than his dying) to make profitable offers for himself and his firm, together with the aforementioned sale of Tony’s catalog and his title and likeness, at their expense.
In line with the brand new lawsuit, the $245,000 apiece that the sisters acquired is “nowhere near what they consider they’re entitled to obtain.” Rolling Stone reviews the lawsuit additionally claims the $12 million valuation of Tony’s belongings on the time of his dying sounds fishy, because the singer had amassed over $100 million in lifetime earnings alone.
The brand new lawsuit additional alleges that Danny had and continues to have “unchecked management” over their late father’s funds and that he continues to abuse his energy for his personal monetary achieve. It additionally accuses him of self-dealing, together with benefiting from “substantial loans and presents to himself and his kids” which have diminished belongings that Tony’s will requires his 4 kids to separate equally.
Household Feud
The siblings’ relationship has expectedly soured for the reason that preliminary lawsuit was filed in June 2024. The feud has led to allegations that Danny has since acted in a “malicious and retaliatory method,” stopping his sisters from accessing private gadgets of sentimental worth from their father’s property. A piano promised to Antonia reportedly gave the impression to be in “horrible situation” once they toured Bennett’s condo.
In the meantime, Danny and his workforce preserve that Danny and his father’s file of unprecedented success speaks for itself and credit score Danny for reviving his father’s profession, particularly within the final decade of his life (Along with being named trustee, Danny was his father’s private {and professional} supervisor with energy of lawyer and was supervisor of his firm Benedetto Arts).
Cautionary Story
This case is one other cautionary story of appointing a member of the family as trustee. Whereas widespread, the Bennett lawsuit raises the query of whether or not an unbiased trustee is typically a greater choice to keep away from household drama and discord, particularly when siblings are concerned. Putting management within the fingers of 1 sibling in an property of this measurement can result in conflicts of curiosity, to not point out depleted property belongings throughout pricey litigation amongst feuding members of the family.
“Trustees have a litany of fiduciary duties beneath the probate code, together with the duties to deal with all beneficiaries equally, to keep away from self-dealing, and to supply crucial info, together with accounting information when requested,” mentioned Neil Solarz, shareholder/director at Weinstock Manion. “Whereas it hasn’t been confirmed whether or not Danny is violating these duties, his siblings have each authorized proper to provoke authorized proceedings to find out whether or not there was a breach of belief,” he added.
Who Will Prevail?
In line with Solarz, since allegations of diminished capability are at play right here, the sisters are inside their rights to petition for the elimination of Danny as trustee, in addition to damages induced to the belief property. “It’s unclear whether or not the property can be topic to a belief contest primarily based on whether or not the belief was created later in life when Tony was battling Alzheimer’s,” defined Solarz.
“Sadly, as elder abuse instances have lately gained extra traction, it’s a good suggestion to get a psychiatric examination when coping with an aged consumer the place a number of kids are favored over the others,” suggested Solarz.
Presumably, not having all of the information, a geriatric psychiatric examination wasn’t given on this case, which probably contributes to the truth that the household now faces prolonged, drawn-out probate litigation. Because the Bennetts are a high-profile household, Solarz suspects that the matter will finally find yourself in mediation earlier than a retired probate decide.
Function of Favoritism
Apparently, the case additionally raises the important query of the function of favoritism and whether or not it stands up in courtroom. “If Tony was wholly competent and needed a particular youngster, on this case, Danny, answerable for the property, then he’s entitled to have his plan carried out. In some eventualities, a star could title one youngster because the executor however ask for belongings to be break up equally between their heirs. In different instances, they might grant the favored youngster a bigger share of the belief whereas having the opposite heirs break up the remaining shares. Regardless, assuming Tony had testamentary capability and was free from undue affect, he trusted Danny to hold out his needs, and due to this fact, the daughters could have the burden of proving that Danny breached his duties,” Solarz concluded.