Tony Bennett will be remembered for his distinctive, smooth voice on songs like “I’ve Got You Under My Skin”. He launched his career in the 1950s during the rise of rock ‘n’ roll, a time when artists like Elvis Presley dominated the charts. Unlike these rock icons, Bennett chose to focus on sophisticated vocal artistry, in the tradition of crooners like Frank Sinatra, Bing Crosby, and Nat King Cole. In fact, Sinatra once famously declared Bennett the “best singer in the world.”
In 1994, Bennett set up a trust, naming himself and his son Danny as co-trustees. The trust was partially funded, meaning some assets were formally transferred into it, for the ultimate benefit of Bennett’s four children. Bennett’s will further stipulated that any tangible personal property not included in the trust should be distributed equally among his children.
In 2016, Bennett was diagnosed with Alzheimer’s disease, and he passed away in July 2023 at the age of 96. Following Bennett’s death in 2023, Danny became the sole trustee.
In June 2024, Bennett’s daughters, Johanna and Antonia, filed a lawsuit claiming Danny failed to properly account for and disclose all trust assets and related transactions. Danny served not only as a co-trustee but also as his father’s manager, and the manager of Benedetto Arts, LLC a family company that managed certain properties and assets.
In July 2022, after Bennett’s Alzheimer’s diagnosis but before his death, Danny allegedly sold memorabilia and his father’s name and likeness, reportedly earning a significant commission through his own company. He is also accused of auctioning off Tony’s personal items without properly notifying Johanna and Antonia.
Additionally, Danny is said to have received $1.2 million in loans taken out by the trust after Tony’s Alzheimer’s diagnosis. Finally, under the terms of the trust, Danny earned 25% more than his siblings, for his work with his father.
All told, the sisters allege that Tony Bennett earned over $100 million throughout his lifetime, but Danny reported a value of just $7 million at the time of the singer’s death.
Litigation between the siblings remains ongoing, and what was once a pretty straightforward estate plan- every child shares equally- is now a bitter mess. We may not have Tony Bennett’s fame or wealth, but what can we take away from this litigation to avoid similar disputes within our own families?
Consider Using a Professional Executor or Trustee.
The larger the estate, the more a professional or corporate executor or trustee should be considered. Danny’s dual role as co-trustee and manager created potential conflicts of interest, especially as Tony’s health declined. An independent trustee could have provided essential protection for both the beneficiaries and Danny. Professional trustees also bring expertise and resources that can help ensure that family goals and objectives are met effectively.
Prioritize Transparency and Communication.
Poor communication and lack of transparency are far and away the top causes of trust and estates litigation. Once a disputes arise, legal battles can escalate quickly, consuming substantial assets that should benefit your loved ones. Each beneficiary typically requires legal counsel, and the trustee may need separate representation, resulting in high costs.
Provide for Recourse and Accountability.
In situations where the actions of a trustee are called into question, as in the Bennett case, beneficiaries must have legal recourse to ask for a thorough accounting of the estate’s assets and financial transactions. This can be arranged within the trust documents to potentially avoid costly court proceedings. If a trustee is found to have acted in bad faith or mismanaged the estate, beneficiaries can implement mechanisms for removal, or otherwise petition the appropriate court.
Disclaimer: The information on this website is not legal advice. It is for information purposes only. No user of this site should act or refrain on the basis of this information without seeking legal counsel. This website does not create an attorney-client relationship.
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