Tony Bennett's daughters accuse brother of mismanaging family trust
Published in Entertainment News
Tony Bennett's daughters have accused their brother of stealing hundreds of thousands of dollars from the family trust.
The late singer's children Antonia and Johanna Bennett initially fined a lawsuit against their sibling Danny - who is the sole trustee of The Tony Bennett 1994 Family Trust - last June, almost a year after their famous father's death, over assets they claimed were unaccounted for and have now filed another motion with the court expressing their "serious concerns" about his "mismanagement".
In a response to Danny's November motion to transfer the petition to surrogate's court or to dismiss it, Antonia and Johanna - who are beneficiaries of the trust along with their brother Dae - wrote in documents obtained by People magazine: "Danny acted in multiple, conflicting fiduciary capacities for an extended period prior to Tony's death and took (for himself and his children) significant funds from the Family Trust.
"Moreover, as publicised by Danny to various media outlets, at some point prior to Tony's death, Tony entered a phase of diminished capacity, which means Tony was no longer able to act as co-Trustee, leaving Danny to serve as sole Trustee of the Family Trust with no oversight."
The sisters' filing states they have a right to an accounting of Danny's actions both before and after their father's death as they feel there has been a "lack of transparency" because he was essentially acting without supervision.
The documents stated: "[Tony] expressed a clear intention and direction in his estate plans that all four of his children be treated equally."
The legendary crooner's daughters alleged their brother wrote cheques using trust funds "as he saw fit" and he made "multiple gifts to himself" amounting to $200, 700 in 2022. They also alleged he took advances of $50,000 each month on top of his commission as Tony's business manager from as far back as 2021, despite formal arrangements not being made until the following year.
The filing alleged Danny's company RPM received almost $2.6 million in commissions, while Johanna and Antonia have each only received $245,000 each from the trust.
The documents stated: "Without more information about Tony's income, it is unclear whether the payments Danny was making to himself exceed what was contractually owed to him.
"Statements and management agreements provided by Danny indicate that commissions paid to [his company, RPM Productions] appear to have been much higher than they should have been based on Tony's income."
Tony - who was diagnosed with Alzheimer's in 2016 but continued to record and perform until 2021 - created his trust in 1994 with his sons appointed co-trustees. It was amended in 2008, with Danny and Tony himself named co-trustees.
Dae and Tony's widow, Susan Bendetto, are also named as respondents in the lawsuit, having been accused by Johanna and Antonia of "avoiding accountability for Danny's actions" as they have argued the pair "lack standing" to see an accounting for the period before the singer's passing, and their request to see it from the time after his death is "premature."
A source close to Danny insisted he only ever worked in the "best interest" of his father.
The insider said: "Tony and Danny Bennett have worked together for over 40 years, and the record of their successful partnership speaks for itself. Tony thoughtfully planned his estate to reflect his wishes and generously provided for his loved ones.
"Danny has always acted in Tony's best interest and has worked diligently to ensure his father's plans were honoured and carried out. It is unfortunate and sad that some are choosing to dispute his decisions rather than honouring Tony's legacy."
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