For an ailing Feinstein, a fight over the family fortune
By Tim Arango and Shawn Hubler | New York Times
In one legal dispute, the family is fighting over what’s described as Feinstein’s desire to sell a beach house in an exclusive neighborhood in Stinson Beach, north of San Francisco. In another disagreement, the two factions are at odds over access to the proceeds of Blum’s life insurance, which Feinstein says she needs to pay for her growing medical expenses.
Raised in affluence, Feinstein has long been among the wealthiest members of Congress. She was rich in her own right in 1980 when she married Blum. After she entered the Senate, she placed securities into a blind trust that is valued at between $5 million and $25 million, according to her most recent financial disclosure required of lawmakers.
Feinstein, 90 and in her sixth term in the Senate, has long been in frail health with increasing memory and cognition issues. When she returned to work earlier this year after a monthslong absence because of shingles and various complications, her further decline shocked colleagues. She has relied on a cadre of aides in order to function in the Senate, even as she has resisted calls to relinquish her seat before her term expires after next year’s election.
The suit also accused Blum’s daughters of seeking to use the beach house at Feinstein’s expense and to limit her ability to sell off parts of the trust in order to increase the value of their inheritance after Senator Feinstein’s death. “My clients are perplexed by this filing,” Braccini said in a statement. “Richard Blum’s trust has never denied any disbursement to Senator Feinstein, let alone for medical expenses.”The statement said that the trustees have not been provided with documentation showing that Katherine Feinstein had been appointed power of attorney. And, in an apparent attempt to raise questions about Sen.
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