Thursday, August 17, 2023
Katherine Feinstein has accused the co-trustees of a trust in the name of Richard Blum of elder abuse against Senator Dianne Feinstein. The recent court filing was submitted by the Senator’s daughter, who has limited power of attorney over her mother.
Michael Klein, Marc Scholvinck, and Verett Mims are co-trustees of the trust in which Senator Feinstein is the sole income beneficiary. Katherine accused them of not making the required distributions since Blum’s death. She accused them of purposely slow-rolling payments to benefit Richard Blum’s three daughters, who stand to inherit millions. Katherine wants the court to suspend the co-trustees “pending a decision on whether to remove them,” which she said is necessary to “prevent further loss and injury to Senator Feinstein.”
An attorney for Klein and Scholvinck responded forcefully, stating that they have always acted ethically and appropriately.
For more information see Alex Shultz “Katherine Feinstein alleges Sen. Dianne Feinstein is victim of elder abuse in filings” SF Gate, August 15, 2023.
Special thanks to Mark J. Bade (CPA, GCMA, St. Louis, Missouri) for bringing this article to my attention.
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