Sen. Dianne Feinstein claims 'financial elder abuse'

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16 Aug 2023, 7:14 pm

In a lawsuit filed on her behalf, the 90-year-old senator's daughter alleged the trustees of Feinstein's late husband's estate have failed to pay the millions she's due.

Quote:
Sen. Dianne Feinstein is suing the trustees of a fund set up by her late husband, accusing them of committing "financial elder abuse" by allegedly refusing to pay the senator the millions of dollars she's due.

The suit was filed in San Francisco Superior Court last week by the 90-year-old California Democrat's daughter, Katherine Feinstein, who was given “a limited durable power of attorney” over her mother's affairs in July.

Feinstein, the oldest member of the Senate and the longest-serving female senator in U.S. history, has been beset by health problems in recent years and announced in February that she would not seek re-election next year.

The suit, which was first reported by the San Francisco Chronicle, alleges the trustees of a marital trust established by Feinstein's late husband Richard Blum have failed to fund the $5 million trust and make a required $1.5 million annual payment, to reimburse her for her medical expenses as Blum intended, and to provide an accounting of estate funds.

“Although Blum died more than a year and one-half ago, the Trustees have still neither funded the Marital Trust nor made any of the required income distributions to Senator Feinstein,” the suit said.

Blum was a financier who died last year at age 86. The New York Times reported his net worth was estimated to be over $1 billion, although his friends later told the paper that his finances, which included hotel holdings, took a major hit during the Covid-19 pandemic.


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