Sen. Dianne Feinstein says she's being cut out of millions from her husband's estate in an act of 'financial elder abuse'

• Dianne Feinstein alleges that the trustees for her husband's estate have engaged in "financial elder abuse."

• Katherine Feinstein, who filed the suit on behalf of her mother, alleges that Feinstein is being cut out of millions.

• The suit is the latest episode in a fight over the late-billionaire Richard Blum's estate.

Trustees overseeing Sen. Dianne Feinstein's late husband's estate have engaged in "financial elder abuse" by trying to cut her out of millions of dollars, a suit filed by Feinstein's daughter alleges.

The lawsuit, first reported by San Francisco Chronicle, alleges that the trustees in charge of Richard Blum's estate are taking actions that would cut the California Democrat out of millions she's entitled to in favor of Blum's three daughters. It is the latest action in the private family dispute that is increasingly public as the sides fight over Blum's considerable fortune.

Katherine Feinstein, a former San Francisco judge, filed the suit on behalf of her mother. A previous suit revealed that Feinstein had granted her daughter power of attorney, though it was not clear how far the agreement extended. The latest suit, filed on August 8, confirms that Katherine Feinstein holds legal power of attorney.  The agreement for those powers was made on July 23, per the legal documents. The existence of the power of attorney agreement raised speculation, encouraged by one of the lawyers for the trustees, about the power Katherine Feinstein held on behalf of a sitting US senator. Based on the new information, it is possible that the agreement was brokered as a matter of convenience to Feinstein.

Feinstein's health is closely followed in Washington. At 90, she is the oldest member of the Senate. Feinstein missed nearly three months of votes after contracting shingles. Some fellow Democrats have called on Feinstein to resign, but thus far she has repeatedly rebuffed such requests. In the meantime, reporters have observed multiple instances where Feinstein appears to be confused or not fully aware of what is unfolding. A former San Francisco mayor, Feinstein has held to her previous promise to step down after her current term ends in January 2025.

Just last week, Feinstein was briefly hospitalized after falling at her home.

A billionaire financier, Blum owned multiple properties, including homes in California and Washington, D.C., along with a 3,500-square-foot Stinson Beach house, and an ocean-front home on the Hawaiian island of Kauai. Blum also reportedly owned a stake in the Claremont Hotel in Berkeley, California that was reportedly sold for $163 million. The suit alleges the proceeds from that sale never touched Feinstein's trust. In a previous suit, Katherine Feinstein alleged that the trust was not moving quickly enough to sell the Stinson Beach house. The suit claimed Blum's daughters want to keep the property.

According to the August suit, Feinstein's martial trust should have already received $5 million. It further alleges that the trustees, Michael Klein, Marc Scholvinck, and Verett Mims, failed to respond to Feinstein's requests that the trust reimburse her medical expenses. Katherine Feinstein concedes that the trust has never denied one of Feinstein's requests, but characterizes this claim as "misleading."

"The Trustees have failed to respond to any requests for disbursements, which is a de facto denial," the suit alleges. "The Trustees have engaged in an overarching pattern of inaction related to Senator Feinstein's beneficial interests, to her detriment."

An attorney for Klein and Scholvinck slammed the latest suit.

"The trustees have acted ethically and appropriately at all times; the same cannot be said for Katherine Feinstein," attorney Steven P. Braccini said in a statement. "This filing is unconscionable. 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."

In a statement to the Chronicle, Feinstein's Senate office declined to comment on the suit.

Read the original article on Business Insider