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Court documents allege ‘elder financial abuse’ of Sen. Dianne Feinstein
By Clare Foran, CNN
Court documents allege ‘elder financial abuse’ of Sen. Dianne Feinstein
SENATOR DIANNE FEINSTEIN IS SUING TO REMOVE THE TRUSTEES OF HER LATE HUSBAND’S ESTATE AND SHE IS CLAIMING THAT THAT THEY HAVE COMMITTED ELDER ABUSE, REFUSED TO RESPOND TO DISBURSEMENT REQUESTS AND IMPROPERLY FINANCIALLY ENRICHED HIS DAUGHTERS. HERE TO TALK ABOUT THIS STORY IS THE REPORTER WHO ACTUALLY WORKED ON IT FOR THE SAN FRANCISCO CHRONICLE. SHIRA STEIN. THANKS FOR JOINING US TODAY. WE APPRECIATE IT. THANKS FOR HAVING ME ON. SOME BIG NUMBERS ALLUDED TO IN THIS ARTICLE AND ALSO A LOT OF FAMILY BUSINESS. TELL US A LITTLE BIT MORE ABOUT THIS LAWSUIT. YEAH, IT’S A REALLY UGLY BATTLE. THIS IS ACTUALLY THE THIRD OF THE LAWSUITS THAT HAVE BEEN FILED BY SENATOR FEINSTEIN AND HER DAUGHTER IN THE LAST THREE MONTHS. THIS ONE IS DEALING WITH HER LATE HUSBAND, -- KLUM’S ESTATE. HE WAS REPORTEDLY A BILLIONAIRE. AND SO THERE’S A LOT OF MONEY AT STAKE IN THIS IN THIS IN THIS ESTATE AND IN RESOLVING ALL OF THIS. AND SO SHE, ACCORDING TO THE LAWSUIT, IS SUPPOSED TO BE RECEIVING MONEY FROM THE ESTATE. AND SHE SAYS SHE IS NOT. SO WHAT IF THE TRUSTEES WHO ARE INVOLVED IN THIS HAD TO SAY, YEAH, SO THEY THEY ACTUALLY JUST FILED A RESPONSE TO ONE OF THE EARLIER LAWSUITS JUST A COUPLE OF DAYS AGO. AND WHAT THEY SAY IS THAT SHE’S BEEN RECEIVED. $125,000 EVERY QUARTER AND THAT THEY’VE BEEN THEY’VE BEEN DOING WHAT THEY CAN TO TRY AND GET HER THE MONEY. BUT THAT IT TAKES TIME TO SORT OUT THE EXTENT OF ESTATE TAXES THAT ARE INVOLVED WITH HIS ESTATE. THEY’RE ALSO KIND OF CLAIMING THAT HER DAUGHTER, WHO IS ACTING ON HER BEHALF IN THIS SITUATION, IS GREEDY AND TRYING TO GET THE MONEY FOR HERSELF IN A NUMBER OF THEIR STATEMENTS TO MYSELF AND TO OTHERS. CAN YOU CLARIFY THAT THE CHILDREN WHO ARE INVOLVED, WHEN YOU MENTION, LIKE HER DAUGHTER, HE HAD CHILDREN FROM A PREVIOUS MARRIAGE AS WELL, RIGHT? YES. IT’S I KNOW IT’S THIS WHOLE SITUATION IS CONFUSING WITH HOW MANY TRUSTEES THERE ARE AND ALL OF THAT. SO -- BLOOM HAD THREE DAUGHTERS FROM A PREVIOUS MARRIAGE. THEY’RE NOT BIOLOGICALLY RELATED TO DIANNE FEINSTEIN. THEY SAY WHEN SHE PASSES, WE’LL GET ACCESS TO MUCH OF HIS FINANCES. DIANNE FEINSTEIN ALSO HAS A DAUGHTER FROM A PREVIOUS MARRIAGE, KATHERINE FEINSTEIN, NOT RELATED TO -- BLOOM. SHE IS NOT IN SHE DOES NOT RECEIVE ANYTHING FROM HIS ESTATE. AND SO THAT’S SORT OF THE BACK AND FORTH HERE IS BETWEEN HIS DAUGHTERS AND THE OTHER TRUSTEES OF HIS ESTATE VERSUS SENATOR FEINSTEIN AND HER DAUGHTER, FEINSTEIN. IT’S BEEN OBVIOUSLY IN HEADLINES A LOT IN THE LAST YEAR, A LOT OF THAT HAVING TO DO WITH HER PHYSICAL HEALTH AND MENTAL FITNESS. IS SHE COMMENTING ABOUT ANY OF THIS STUFF WITH THE LAWSUIT AT THIS POINT, NO, NO. AS FAR AS AS FAR AS HER OFFICE HAS SAID, THIS IS A PRIVATE FAMILY MATTER AND THEY WILL NOT BE COMMENTING ON ANY OF IT. AND RIGHT NOW, SHE’S BACK IN CALIFORNIA. SO WE’VE BEEN UNABLE TO ASK HER ABOUT THIS AROUND THE US CAPITOL. BUT YEAH, SOME OF THE THINGS THAT SHE THAT HER SHE AND HER DAUGHTER ALLEGE IN THIS LAWSUIT ARE PRETTY PRETTY EXTENSIVE. THEY EVEN FILED A LAWSUIT SAYING THAT SHE NEEDED THIS MONEY TO PAY FOR THE MEDICAL EXPENSES FROM HAVING SHINGLES EARLIER THIS YEAR. ALL RIGHT. THANK YOU SO MUCH FOR JOINING US. I KNOW IT’S THE HEADLINES CERTAINLY HAVE CAUGHT A LOT OF ATTENTION FROM PEOPLE IN
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Court documents allege ‘elder financial abuse’ of Sen. Dianne Feinstein
By Clare Foran, CNN
A petition filed in San Francisco Superior Court alleges that California Democratic Sen. Dianne Feinstein has been the victim of “elder financial abuse” with regard to the management of a trust.The petition states that when Feinstein’s husband Richard Blum died in February 2022, a trust that had been set up by him required its trustees to establish a marital trust funded with $5 million to benefit the senator. But, the petition alleges the trustees “have still neither funded the Marital Trust nor made any of the required income distributions to Senator Feinstein.”The legal document accuses the trustees of committing “financial abuse” of Feinstein by “wrongfully withholding distributions,” and of “elder financial abuse” by “wrongfully and in bad faith depriving her of property rights.”The San Francisco Chronicle was first to report on the petition.The petition has been brought by Katherine Feinstein, who it says has been appointed by the senator “as her attorney-in-fact under a limited durable power of attorney.” The filing states that Katherine is the senator’s daughter from a prior marriage.Michael Klein, Marc Scholvinck and Verett Mims, are named by the petition as the respondents and as co-trustees of the Richard C. Blum Revocable Trust.Steven P. Braccini, an attorney for Klein, Scholvinck and Mims, said in a statement that, “the trustees have acted ethically and appropriately at all times; the same cannot be said for Katherine Feinstein,” adding that “this has nothing to do with (Dianne Feinstein’s) needs and everything to do with her daughter’s avarice.”CNN has reached out to attorneys for Katherine Feinstein.Adam Russell, a spokesman for the senator’s office, said in a statement to CNN, “This is a private legal matter. Senator Feinstein and her office won’t have any comment.”The petition makes a number of claims for relief, including calling for the court to compel the trustees to fund the marital trust as well as to suspend the trustees “pending a decision on whether to remove them” and appoint a temporary trustee to replace them.The senator, who is 90, has faced increased scrutiny over her health in recent months amid a string of health-related issues.In February, she announced that she would not run for reelection in 2024. She was briefly hospitalized earlier this month after a fall.
WASHINGTON —

A petition filed in San Francisco Superior Court alleges that California Democratic Sen. Dianne Feinstein has been the victim of “elder financial abuse” with regard to the management of a trust.

The petition states that when Feinstein’s husband Richard Blum died in February 2022, a trust that had been set up by him required its trustees to establish a marital trust funded with $5 million to benefit the senator. But, the petition alleges the trustees “have still neither funded the Marital Trust nor made any of the required income distributions to Senator Feinstein.”

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The legal document accuses the trustees of committing “financial abuse” of Feinstein by “wrongfully withholding distributions,” and of “elder financial abuse” by “wrongfully and in bad faith depriving her of property rights.”

The San Francisco Chronicle on the petition.

The petition has been brought by Katherine Feinstein, who it says has been appointed by the senator “as her attorney-in-fact under a limited durable power of attorney.” The filing states that Katherine is the senator’s daughter from a prior marriage.

Michael Klein, Marc Scholvinck and Verett Mims, are named by the petition as the respondents and as co-trustees of the Richard C. Blum Revocable Trust.

Steven P. Braccini, an attorney for Klein, Scholvinck and Mims, said in a statement that, “the trustees have acted ethically and appropriately at all times; the same cannot be said for Katherine Feinstein,” adding that “this has nothing to do with (Dianne Feinstein’s) needs and everything to do with her daughter’s avarice.”

CNN has reached out to attorneys for Katherine Feinstein.

Adam Russell, a spokesman for the senator’s office, said in a statement to CNN, “This is a private legal matter. Senator Feinstein and her office won’t have any comment.”

The petition makes a number of claims for relief, including calling for the court to compel the trustees to fund the marital trust as well as to suspend the trustees “pending a decision on whether to remove them” and appoint a temporary trustee to replace them.

The senator, who is 90, has faced increased scrutiny over her health in recent months amid a string of health-related issues.

In February, she announced that she would not run for reelection in 2024. She was briefly hospitalized earlier this month after a fall.

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