https://sputnikglobe.com/20230815/feinstein-alleges-financial-abuse-by-trustees-of-late-husbands-estate-1112628222.html
Feinstein Alleges Financial Abuse by Trustees of Late Husband's Estate
Feinstein Alleges Financial Abuse by Trustees of Late Husband's Estate
Sputnik International
The legal filing by Feinstein's legal team calls for the immediate suspension and removal of the trustees due to their alleged breach of duties and mishandling of the trust.
2023-08-15T23:54+0000
2023-08-15T23:54+0000
2023-08-15T23:54+0000
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dianne feinstein
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In a dramatic legal twist, Senator Dianne Feinstein (D-Calif.) has launched accusations of financial abuse against the trustees of her late husband's estate. The trustees, responsible for overseeing the Richard C. Blum Revocable Trust, have been accused of wrongfully withholding funds to which Feinstein claims she is entitled following her husband's passing. The late Richard Blum, reportedly a billionaire, left behind an estate that has now become the subject of a bitter legal dispute.Feinstein, who is 90 years old, alleges that the trustees—Michael Klein, Marc Scholvinck, and Verett Mims—have violated their fiduciary duties by refusing to disburse the funds she is owed. According to her claims, upon her husband's death, a $5 million payment was designated to be placed into her marital trust, with quarterly installments thereafter.However, she asserts that this payment has not been made, and she has not received any distributions from the trust.The legal filing by Feinstein's legal team calls for the immediate suspension and removal of the trustees due to their alleged breach of duties and mishandling of the trust. The filing contends that the trustees are acting in bad faith, diverting assets that should rightfully be allocated to Feinstein's trust. The senator's legal team also highlights concerns that the trustees' inaction is poised to favor Blum's daughters, who are set to inherit substantial sums from the trust.Feinstein's spokesperson has declined to comment on the matter, citing its private nature as a family affair. Meanwhile, the trustees' attorney previously asserted that they had not denied any disbursements to the senator. In response, Feinstein's filing argues that the trustees' failure to respond to disbursement requests effectively amounts to a denial.This legal battle unfolds against a backdrop of personal challenges for Feinstein, including a health struggle with shingles that resulted in her missing substantial Senate activities. The senator has filed multiple lawsuits in connection with the estate dispute, with hearings scheduled for the coming weeks.As Feinstein navigates this tumultuous chapter, her legacy as the longest-serving Senate Democrat remains in the spotlight, accompanied by questions about her mental acuity and her future plans following her announcement of retirement at the end of her term.
https://sputnikglobe.com/20230805/us-senator-feinstein-grants-power-of-attorney-to-daughter---but-retains-congress-seat-1112409896.html
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senator feinstein, who is feinstein, wat is richard blum revocable trust, why are they smoking from feinstein, feinstein aide allies to them
Feinstein Alleges Financial Abuse by Trustees of Late Husband's Estate
The trustees, responsible for overseeing the Richard C. Blum Revocable Trust, have been accused of wrongfully withholding funds to which Feinstein claims she is entitled following her husband's passing.
In a dramatic legal twist, Senator Dianne Feinstein (D-Calif.) has launched accusations of financial abuse against the trustees of her late husband's estate. The trustees, responsible for overseeing the Richard C. Blum Revocable Trust, have been accused of wrongfully withholding funds to which Feinstein claims she is entitled following her husband's passing. The late Richard Blum, reportedly a billionaire, left behind an estate that has now become the subject of a bitter legal dispute.
Feinstein, who is 90 years old, alleges that the trustees—Michael Klein, Marc Scholvinck, and Verett Mims—have violated their fiduciary duties by refusing to disburse the funds she is owed. According to her claims, upon her husband's death, a $5 million payment was designated to be placed into her marital trust, with quarterly installments thereafter.
However, she asserts that this payment has not been made, and she has not received any distributions from the trust.
The legal filing by Feinstein's legal team calls for the immediate suspension and removal of the trustees due to their alleged breach of duties and mishandling of the trust. The filing contends that the trustees are acting in bad faith, diverting assets that should rightfully be allocated to Feinstein's trust. The senator's legal team also highlights concerns that the trustees' inaction is poised to favor Blum's daughters, who are set to inherit substantial sums from the trust.
Feinstein's spokesperson has declined to comment on the matter, citing its private nature as a family affair. Meanwhile, the trustees' attorney previously asserted that they had not denied any disbursements to the senator. In response, Feinstein's filing argues that the trustees' failure to respond to disbursement requests effectively amounts to a denial.
This legal battle unfolds against a backdrop of personal challenges for Feinstein, including a health struggle with shingles that resulted in her missing substantial Senate activities. The senator has filed multiple lawsuits in connection with the estate dispute, with hearings scheduled for the coming weeks.
As Feinstein navigates this tumultuous chapter, her legacy as the longest-serving Senate Democrat remains in the spotlight, accompanied by questions about her mental acuity and her future plans following her announcement of retirement at the end of her term.
