Dianne Feinstein's Trust Drama Intensifies
August 23, 2023 – Media MentionProbate, Trusts & Estates Litigation Chair, Benny Roshan, shared her insights with WealthManagement.com regarding Katherine Feinstein's recent lawsuit accusing the trustees of former Senator Dianne Feinstein's late husband’s trust of elder abuse.
Excerpts:
Benazeer “Benny” Roshan, partner and chair of the Trust and Probate Litigation Group at Greenberg Glusker in Los Angeles, explains that individuals 65 years of age and older are considered vulnerable for purposes of this law, which defines financial elder abuse as an act of not only “obtain[ing]” but also “retain[ing]” assets belonging to an elderly person for a “wrongful use or with intent to defraud or both.” Per Roshan, the “wrongful use” element of the statute can be satisfied if the party accused of wrongful retention of property “knew or should have known that this conduct is likely to be harmful to the elder or dependent adult.”
“The key question here appears to be whether the delay in funding the marital trust was reasonable, given many factors including Senator Feinstein’s advanced age and financial circumstances,” opines Roshan.
“If facts come to light that the trustees had the means to fund her marital trust and failed to do so, it would appear that their failure could result in liability and damages for financial elder abuse,” she added.