Daughters of Tony Bennett claim brother profited millions due to mishandling of family trust
The legal dispute involving Tony Bennett’s daughters over the late jazz singer’s family trust continues without a resolution.
This month, Antonia and Johanna Bennett filed a counter to their older brother Danny Bennett’s request made in November to either change the court handling their case or dismiss it entirely, as outlined in New York Supreme Court documents accessed by YSL News on Thursday.
Antonia and Johanna are urging the court to conduct an audit of Danny’s financial dealings as trustee, citing his “track record of distributing funds to himself, engaging in self-serving transactions,” and the supposed absence of “proper oversight of his actions.”
Their claims include allegations that Danny led several business undertakings tied to their father’s career, which significantly increased his own finances, while they were not adequately compensated for it.
Their brother Daegal Anthony Bennett and their father’s wife, Susan Crow, are also mentioned in the legal documents, similar to prior filings by Antonia and Johanna. Nonetheless, the claims of financial misconduct are directed solely at Danny.
YSL News has reached out to Danny Bennett’s representatives for comments.
Understanding the court case over the Tony Bennett family trust
In June 2024, the daughters filed a lawsuit against Danny, claiming he mishandled the family trust and failed to disclose important transactions and assets of the trust.
The family trust was established in December 1994, with Johanna, Antonia, Daegal, and Crow named as beneficiaries. Bennett and Danny were appointed trustees. After Bennett passed away in July 2023, Danny became the only trustee according to court records obtained by YSL News at that time.
In their memorandum opposing Danny’s motion on January 3, Antonia and Johanna stated that “Danny has only provided limited and inadequate information” in response to their lawsuit and continues to deny their “request for a financial audit.”
“The family trust clearly demonstrates Tony’s desire to ensure equality among his four children,” the memorandum notes. “It is vital that all beneficiaries of the family trust are able to review Danny’s actions to confirm that Tony’s wishes are honored.”
A source familiar with the situation, who cannot speak on record, informed YSL News that “Tony and Danny have collaborated for over 40 years, and their successful partnership is well documented. Tony intentionally arranged his estate to reflect his desires and generously supported his family.”
“Danny has consistently acted in Tony’s best interest and has worked hard to honor his father’s legacy. It’s unfortunate that some choose to challenge his decisions instead of celebrating Tony’s legacy.”
Accusations of over $2 million received by Tony Bennett’s brother from a business transaction
Antonia and Johanna claim in their filing that Danny received a huge payday exceeding millions from a transaction finalized in 2022.
In July 2022, Danny allegedly sold a combination of Bennett’s personal belongings, memorabilia, and “all of Tony’s name and likeness” to Iconoclast, a firm that manages and promotes artists’ legacy projects, as referenced in their June 2024 lawsuit.
While they were informed about the Iconoclast deal, according to the complaint, the daughters stated they were not made aware of which specific Bennett assets had been sold. Moreover, they claim they received only “one modest distribution” from the sale, leaving out proceeds designated for the family trust and the family’s LLC, Benedetto Arts.
Furthermore, Antonia and Johanna argue that Danny’s RPM Productions, an artist management and marketing firm, allegedly earned around $2.6 million in commissions from the Iconoclast deal, whereas they reportedly only received $245,000 each.
“Danny argues he entered the agreement because Tony was facing financial difficulties,” the memorandum claims.
“However, evidence provided to (Antonia and Johanna) suggests that Tony had millions still available at the time of the Iconoclast agreement, and despite claiming financial strain, Danny continued to take monetary gifts from the family trust and secure loans from it for himself and his children.”
Tony Bennett’s son purportedly received multiple ‘self-payments’ as trustee
Aside from being trustee, Danny also took an active role in managing Bennett’s finances, including assets tied to Benedetto Arts, LLC, in which Bennett’s children hold stakes. Danny was also Bennett’s manager.
Antonia and Johanna allege in their memorandum that their brother independently signed a management deal in December 2022 in his roles as Bennett’s attorney-in-fact, president of RPM Productions, and the trustee of the family trust. This agreement purportedly served to greatly enhance Danny’s personal financial situation.
One stipulation of the agreement allegedly required a “non-refundable advance” of $50,000 in monthly payments to RPM Productions, ensuring “considerable commission payments to Danny (via RPM) regardless of whether those commissions were earned,” the memorandum indicates.
The daughters assert that these “self-payments” included “numerous checks” Danny allegedly issued to himself, along with monetary “gifts” leveraged from trust funds totaling $200,700, and a $200,000 advance commission to RPM Productions in 2021, separate from the aforementioned $50,000 advances.
“The lack of transparency concerning Tony’s income makes it difficult to determine whether the payments Danny paid to himself exceeded what was contractually due to him,” the memorandum states. “The statements and management agreements provided by Danny imply that the commissions paid to RPM were disproportionately high compared to Tony’s earnings.”
The next court hearing is set for January 30, based on YSL News’ review of court records.
This story has been updated due to an earlier inaccuracy.
Contribution by: Jay Stahl