The ongoing legal battle over the estate of Senator Dianne Feinstein’s late husband, Richard Blum, has put the spotlight on Feinstein’s only daughter, Katherine. The former San Francisco Superior Court judge alleges that her stepfather’s trustees were improperly appointed and are conspiring to increase the inheritance of her stepsisters at her expense.
Katherine Feinstein, who is at odds with her stepsisters, accuses the trustees of financial elder abuse for not making annual payments due to the senator or reimbursing her medical bills.
The Heirs
Richard Blum’s fortune, estimated to exceed $1 billion, is largely set to be inherited by his three daughters from a previous marriage — Annette, Heidi, and Eileen Blum. Katherine Feinstein alleges that the trustees have wrongfully paid off debts or gifted money to Blum’s daughters while refusing to pay millions owed to Feinstein from her late husband’s estate.
The Trustees and Dispute
The two main trustees, Michael Klein and Marc Scholvinck, were long-time business associates of Blum. They argue that Senator Feinstein, whose net worth they estimate to be over $50 million, does not need the payments due to her other income. They also deny Katherine Feinstein’s claim of having power of attorney over her mother.
The Beach House
Katherine Feinstein’s husband, Mariano, a Bay Area real estate investor and former employee of Blum’s firm, is also embroiled in the dispute over a beach house worth an estimated $5.6 million.
Read more at Politico.
