By Clare Foran | CNN
A petition has been filed in San Francisco Superior Court, accusing California Democratic Sen. Dianne Feinstein of being a victim of “elder financial abuse” in relation to the management of a trust.
The petition claims that after Feinstein’s husband Richard Blum passed away in February 2022, a trust set up by him required its trustees to establish a marital trust funded with $5 million for the benefit of the senator. However, the petition alleges that the trustees have failed to fulfill this requirement by not funding the Marital Trust or making any of the necessary income distributions to Senator Feinstein.
The legal document accuses the trustees of committing “financial abuse” by wrongfully withholding distributions from Feinstein and engaging in “elder financial abuse” by depriving her of property rights in bad faith.
The San Francisco Chronicle was the first to report on this petition.
Katherine Feinstein, appointed by the senator as her attorney-in-fact under a limited durable power of attorney, is the petitioner. She is also the senator’s daughter from a previous marriage.
The respondents named in the petition are Michael Klein, Marc Scholvinck, and Verett Mims, who serve as co-trustees of the Richard C. Blum Revocable Trust.
Steven P. Braccini, attorney for Klein, Scholvinck, and Mims, stated that the trustees have consistently acted ethically and appropriately, contrary to Katherine Feinstein’s motivations driven by greed, which have nothing to do with the senator’s needs.
CNN has reached out to Katherine Feinstein’s attorneys for comment.
In a statement to CNN, Adam Russell, spokesman for the senator’s office, indicated that this is a private legal matter and that Senator Feinstein and her office will not comment further.
The petition requests several forms of relief, including the court’s intervention to compel the trustees to fund the marital trust, suspend the trustees while a decision is made on whether to remove them, and appoint a temporary trustee in their place.
The 90-year-old senator has faced increased scrutiny over her health in recent months due to various health-related issues. In February, she announced that she will not run for reelection in 2024. Earlier this month, she was briefly hospitalized after a fall.
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