Millionaire Senator Sues to Get Money for Medical Bills
Sen. Dianne Feinstein, a prominent 90-year-old California Democrat and one of the wealthiest people in Congress, is currently embroiled in a legal battle seeking greater control over the finances of her late husband’s trust. It is worth noting that Feinstein’s net worth exceeds $87 million, with the trust in question holding a value between $1 million and $5 million.
In a recent petition filed with the San Francisco Superior Court, Sen. Feinstein requested that her daughter, Katherine Feinstein, be appointed as a successor trustee of her late husband Richard Blum’s trust. The basis for this request stems from the alleged refusal of the current trustees to reimburse Senator Feinstein for her significant medical expenses.
According to the court documents, Sen. Feinstein incurred substantial medical costs and sought reimbursement from the presumed trustees of the 1996 Marital Trust. However, it came to light that the alleged trustees were not named in the trust documents and were not appointed according to its terms.
The petition aims to grant Katherine Feinstein control over the trust, including a life insurance policy for Richard Blum and its associated benefits. This legal action highlights the senator’s desire to regain control over her late husband’s financial affairs.
Sen. Feinstein’s financial disclosures indicate that the trust in question represents only a portion of her considerable wealth. The trust’s value, estimated to be between $1 million and $5 million, is just a fraction of her net worth, which Open Secrets, a government transparency group, estimated to be over $87 million in 2018.
With such substantial wealth, it is understandable that Sen. Feinstein seeks to secure her financial interests and ensure that her medical expenses are properly reimbursed.
Feinstein argues in the court documents that the current trustees, Mark R. Klein and Marc Scholvinck, were improperly appointed following Richard Blum’s passing. Klein and Scholvinck, who previously worked with Blum, are the individuals responsible for overseeing the trust’s administration and disbursements.
Attorney Steven P. Braccini, representing Klein and Scholvinck, expressed bewilderment over the filing. He emphasized that the trust has never denied any disbursement to Senator Feinstein, particularly regarding her medical expenses. Furthermore, Braccini stated that there is no evidence proving that Katherine Feinstein possesses power of attorney for her mother.
Braccini further remarked, “Katherine [has not] made it clear, either in this filing or directly to my clients, why a sitting United States senator would require someone to have power of attorney over her. While my clients are deeply concerned, we all remain hopeful that this is simply a misunderstanding that can be quickly resolved.”
Earlier this year, Sen. Feinstein faced health issues that kept her away from Washington for months. She contracted shingles, which led to long-lasting side effects, partially paralyzing her face and affecting her mobility. These health challenges likely contributed to the substantial medical expenses incurred by the senator.