Feinstein Experiences ‘Financial Elder Abuse’

Senator Dianne Feinstein, a prominent figure in US politics, has become a victim of “financial elder abuse,” according to a lawsuit filed by her daughter Katherine Feinstein. Katherine, who has power of attorney over her mother’s legal affairs, is seeking the removal of the trustees of the estate of Feinstein’s late husband, Richard Blum. The suit claims that the trustees failed to fulfill their obligation to allocate $5 million into a trust for Feinstein’s benefit while providing gifts and debt relief to Blum’s daughters from a previous marriage, as reported by the San Francisco Chronicle.

Richard Blum, a financier, was estimated to be worth nearly $1 billion when he passed away at the age of 86 last year. The lawsuit accuses the trustees of committing elder abuse by unjustly withholding distributions. It states that the assets of the trust will eventually go to Blum’s daughters after Feinstein’s passing, according to NBC News. The suit alleges that the trustees’ inaction demonstrates their partiality towards the daughters, who would inherit millions of dollars that should rightfully belong to Senator Feinstein if the required distributions are never made to her. In a previous lawsuit filed on the senator’s behalf, it was claimed that she was unable to access any of the funds to cover significant medical expenses when she had shingles.

The attorney for co-trustees Michael Klein and Marc Scholvinck has denied the claims made in the lawsuit. Steven Braccini, their lawyer, insists that the trustees have acted ethically and appropriately throughout the process. Braccini tells the Chronicle, “The trustees have always respected Senator Feinstein and always will. But this has nothing to do with her needs and everything to do with her daughter’s avarice.” He describes the lawsuit as “unconscionable.” (Read more Dianne Feinstein stories.)