Showing posts from January, 2009

HSC gets Pointed about Points of Error

In re Estate of Damon (HSC December 30, 2008) Background.   Samuel M. Damon died in 1924.   His will created a trust to administer over his property.   By 1999, the trust assets included stock in publicly-traded companies and significant land holdings in Hawai'i and California.   By 2003, the trust sold off nearly all of the assets and put the proceeds in a securities portfolio managed by Goldman, Sachs.   The trustees filed a petition for approval of accounting in the probate court.   The probate court appointed James Kawachika as a master for overseeing the accounting.   Christopher Damon Haig objected to the appointment and filed a response.   Haig contended that Kawachika could not be a master because of a conflict of interest.   In his master's report, Kawachika concluded that there may be a conflict, but that he disclosed them.   The probate court approved the income and principal accounts in the petition.   Haig appealed. Points of Error not to be Tampered with.