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Trustee of Late Singer Tony Bennett’s Estate Sued

What Happened to Tony Bennett’s Estate?

For many, estate planning is a distant concern. However, life events can bring it suddenly into focus. A DailyMail headline involving the late singer Tony Bennett exemplifies this. He passed without a robust estate plan, leaving his children and widow embroiled in a legal battle over his estate. We must ask ourselves an important question: how can we avoid these estate disputes?

Why Do Families Fight Over Inheritances?

Family conflicts over inheritance are tragically common. According to The Conversation, there are several reasons why these disputes arise:

  • Lack of Clear Instructions: A vague will or estate plan leaves room for interpretation and disagreement.
  • Unresolved Family Issues: Long-standing family tensions can resurface during the emotionally charged period after a loved one’s death.
  • Perceived Fairness: Different family members might have varying opinions on what constitutes a fair distribution of assets.

In Tony Bennett’s case, the daughters are suing their brothers and his widow. The brother is the sole executor of the state, and he’s allegedly failed to be transparent with his sisters.

Trustee of Late Singer Tony Bennett’s Estate Sued

Tony Bennett’s daughters, Antonia and Johanna Bennett are the plaintiffs in the suit. The defendant, their brother D’Andrea “Danny” Bennett, has allegedly mishandled the estate. According to his sisters, he has failed to disclose their father’s assets and answer their questions.

The sisters estimate the value of their father’s estate to be much greater than what their brother has reported. They specifically claim that their brother did not account for proceeds from the sale of Tony Bennett’s music catalog and image rights when he worked as their father’s manager. They’ve also named their brother Daegal “Dae” Bennett and Tony’s widow, Susan Benedetto, as defendants.

What to Learn from the Battle over Tony Bennett’s Estate

Tony Bennett’s story is a cautionary tale. Whoever is right, a lack of clarity and ambiguity in their fathers’ finances has torn a family apart. While few of us have an estate the size of Tony Bennett’s, even a more modest estate can spark strife. Avoiding litigation and protecting your wishes requires a thorough, detailed estate plan and an impartial executor.

Can You Avoid Estate Litigation?

Creating a detailed will and trusts are the foundation of good estate planning. A few key principles include:

  • Plan Ahead: Don’t wait until it’s too late. Start planning your estate now.
  • Appoint a Trusted Executor: The battle over Tony Bennett’s estate began with the executor’s alleged mismanagement. Avoiding conflicts requires choosing a capable, impartial executor.
  • Seek Professional Help: An experienced estate planning attorney can help you navigate the complexities and ensure that your wishes are honored.
  • Review and Update Your Plan: Life changes, and so should your estate plan. Regularly update your documents to reflect your changing circumstances and wishes.

How can an Estate Planning Attorney Help?

An estate planning attorney can provide invaluable assistance in several ways. They can draft a detailed will that’s legally binding and reflects your wishes. They can also set up different trusts to manage your assets, protect your wealth, and provide for your loved ones in a structured manner. Intelligent estate structuring can minimize your tax liabilities to preserve wealth for your beneficiaries. At the bottom line, a good estate planning attorney can help you protect your legacy for when you’re gone.

Reliable Estate Planning Attorneys

Don’t leave your family’s future to chance. By taking proactive steps, you can avoid the kind of disputes that Tony Bennett’s family is facing.

Contact us today to protect your estate. Our team is here to help you create a comprehensive estate plan that honors your wishes and protects your loved ones.

Key Takeaways

  • Avoid Family Disputes: Proper estate planning can help prevent conflicts among heirs.
  • Clarity and Communication: Clear instructions and open communication reduce misunderstandings.
  • Select a Reliable Trustee: Choosing a trustworthy executor is crucial for smooth estate administration.
  • Regular Updates: Keep your estate plan current to reflect life changes.
  • Professional Guidance: An estate planning attorney can ensure that your wishes are legally sound and honored.

References: DailyMail (June 15, 2024) Tony Bennett’s daughters break their silence after suing brothers and late singer’s widow amid bitter inheritance battle over their father’s estate” and TheConversation (May 17, 2022) Why families fight over inheritances – and how to avoid it

Did Russian Billionaire Who Died Mysteriously Have an Estate Plan?

French police suspected no wrongdoing in the death of real estate baron Dmitry Zelenov. However, they are still investigating his unusual and untimely death.

At just 50, he left behind a wife and four children (his family learned of one minor after his death)—but no will or estate plan to divvy up his assets, reports Forbes’ recent article entitled, “Former Russian Billionaire Mysteriously Died Last Year. Now His Family Is Feuding Over His Fortune.”

Less than two months later, some of his family members say they’ve been locked out of his fortune.

According to a complaint filed in Florida court, his widow, Natalia Dvoryanynova, and their adult son, Michael Zelenov, have filed suit against Dmitry Zelenov’s parents, adult daughter, and financial advisor. They claim that they attempted to disinherit them.

For example, the complaint says that the defendants changed the locks on the couple’s Moscow home and took more than two dozen of his cars—including four Mercedes, two Bentleys and a Rolls Royce—collectively worth more than seven figures.

Once one of the youngest billionaires in Russia—and all of Europe—Zelenov entered Forbes’ billionaire ranks in 2008 at 36 and built his fortune largely through a vast commercial real estate empire in his home country.

Zelenov co-founded the construction giant Don-Stroy in the 1990s, building numerous shopping centers across Russia and the 61-story Triumph Palace skyscraper in Moscow, Europe’s tallest apartment building when it opened in 2003.

However, his fortune was diminished when the real estate market crumbled globally during the Great Recession. It’s unclear just how much Zelenov’s assets are now worth. Even the plaintiffs acknowledge they’re unsure what he was worth. However, the complaint lists bank accounts, jewelry, and cars. Dvoryanynova’s attorneys note that the assets include “tens of millions of dollars” in Russian real estate and as much as $90 million in France.

Reference: Forbes (Feb. 3, 2023) “Former Russian Billionaire Mysteriously Died Last Year. Now His Family Is Feuding Over His Fortune”

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