Wednesday, August 16, 2023
Senator Dianne Feinstein has sued to remove the trustees of her late husband’s estate, claiming financial elder abuse. The lawsuit was filed on August 8, providing insight into Feinstein’s power of attorney arrangement with her daughter Katherine.
In the latest lawsuit, Feinstein claims the trustees are committing financial elder abuse by “wrongfully withholding distributions in bad faith and diverting assets.”
The attorney for the Trustees told reporters that they had never denied any disbursements to Feinstein. Richard Blum was reportedly a millionaire at the time of his death, and the administration of his estate is complex. Disbursements can only be made once the federal estate tax return has been resolved.
The lawsuit also alleges that the trustees have improperly funded gifts to Blum’s daughters. Blum’s three daughters are entitled to at least $22 million after Feinstein’s death if the funds are available.
For more information see Shira Stein “Dianne Feinstein’s bombshell new lawsuit alleges financial abuse over husband’s estate” San Francisco Chronicle, August 15, 2023.
Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.