Katherine Feinstein alleged in a court filing that her mother, Sen. Dianne Feinstein (D-CA), is a victim of financial elder abuse.
Ms. Feinstein claims in her legal action that Michael Klein, Marc Scholvinck and Verett Mims have failed to fund a trust created by the senator’s late husband, Richard Blum.
Blum’s estate was worth an estimated $1 billion, according to a report from The Western Journal.
The August 8 suit explains Ms. Feinstein, a former San Francisco County Superior Court judge, was granted limited power of attorney over her mother by the senator July 23.
The power of attorney authorizes Ms. Feinstein to make legal decisions for her mother in certain civil-related matters, according to the court document.
She alleges in her lawsuit that the co-trustees didn’t fund the trust that designates Sen. Feinstein the sole income beneficiary.
The senator’s daughter further claims the three men have not made “required distributions” to the senator since Blum’s death in 2022.
Ms. Feinstein, a daughter from a previous marriage, also alleges the trustees are purposely slow rolling payments to the senator, according to a report from SFGATE.
She surmises they “intend to benefit Richard Blum’s [biological] daughters, who stand to inherit millions of dollars that should go to Senator Feinstein if the Trustees never make the required distributions to her.”
“The trustees have acted ethically and appropriately at all times; the same cannot be said for Katherine Feinstein,” said attorney Steven P. Braccini in a statement to SFGATE. Braccini represents Klein and Scholvinck.
“This filing is unconscionable,” Braccini continued. “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.”
Klein, who was a former associate of Blum, told the San Francisco Chronicle that Feinstein was receiving $125,000 per quarter.
The revelation comes amid growing concerns for the well-being of the elderly, especially those in positions of prominence, and raises questions about the integrity of those entrusted with the care of senior citizens.
Sen. Dianne Feinstein has served California in the U.S. Senate for numerous terms, being a recognized figure in the political landscape for decades.
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