The Campbell Estate Heirs

[Miulang]

Now that the original Campbell Estate is about to be dissolved (http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20060611/BUSINESS01/606110312/1071), it will be interesting to see what all the heirs will do with their fortunes. Will some give some of the profits back to the kanaka maoli? Or will they keep the largesse all for themselves?

Miulang

[Adri]

I suppose they will continue to do whatever they had been doing so far. The heirs have been receiving distributions from the estate (at least of income) and the estate will become a business (as opposed to an estate) so I don't think the heirs will take all of the principal. They may take some and continue to draw income.

[Jonah K]

I suppose they will continue to do whatever they had been doing so far. The heirs have been receiving distributions from the estate (at least of income) and the estate will become a business (as opposed to an estate) so I don't think the heirs will take all of the principal. They may take some and continue to draw income.
That's pretty much correct. As for "giving profits back to the kanaka maoli," some of the Campbell Estate heirs are kanaka maoli and have always given vast sums to charity. ;)

Cheers,

Jonah K

[Leo Lakio]

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[Adri]

Moved to a better thread? Hey! What's wrong with this one? *looks around* This is a pretty nice thread ;)

[Leo Lakio]

Moved to a better thread? Hey! What's wrong with this one? *looks around* This is a pretty nice thread ;) :D I was just welcoming Jonah back to HT, but the welcome fit better in a thread where he commented on his own return.

Oop, there goes the neighborhood...I mean "thread"...off-topic. :rolleyes:

[Jonah K]

:D I was just welcoming Jonah back to HT, but the welcome fit better in a thread where he commented on his own return.

Oop, there goes the neighborhood...I mean "thread"...off-topic. :rolleyes:
Mahalo for the welcome. :)

Getting back to the topic at hand, the biggest entity that will profit from the dissolution of the Campbell Estate will probably be the IRS. From the heirs collectively, the IRS will probably collect somewhere between $200 and $300 million. :cool:

:cool:

[Glen Miyashiro]

Getting back to the topic at hand, the biggest entity that will profit from the dissolution of the Campbell Estate will probably be the IRS. From the heirs collectively, the IRS will probably collect somewhere between $200 and $300 million.As a one-time collection? Or every year from now on?

[Miulang]

That's pretty much correct. As for "giving profits back to the kanaka maoli," some of the Campbell Estate heirs are kanaka maoli and have always given vast sums to charity. ;)

Cheers,

Jonah K
Welcome back, Jonah! :cool:

Miulang

[manoasurfer123]

Now that the original Campbell Estate is about to be dissolved (http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20060611/BUSINESS01/606110312/1071), it will be interesting to see what all the heirs will do with their fortunes. Will some give some of the profits back to the kanaka maoli? Or will they keep the largesse all for themselves?

Miulang
I'm not giving up anything.... sheesh... !!!

yeah I wish I was one of them!

[Jonah K]

As a one-time collection? Or every year from now on?
For the heirs that chose an all-cash distribution, it will be most likely be a one-time collection. For the heirs that chose to receive shares in the James Campbell Co., LLC., they will be taxed as the shares are liquidated. Depending on the basis and the eventual selling price of the shares, it's possible to "sell at a loss" and not incur any tax liability. ;)

[Jonah K]

Welcome back, Jonah! :cool:

Miulang
Mahalo Miulang! :)

I was lurking about and I couldn't let this topic go without commenting on it. ;)

[Miulang]

Mahalo Miulang! :)

I was lurking about and I couldn't let this topic go without commenting on it. ;)
I figured if you were lurking, this topic probably WOULD flush you out of your self-imposed silence! ;)

Miulang

[anapuni808]

The Campbell heirs have already given back very much to the kanaka maoli. Lili`uokalani Kawananakoa Morris formed Friends of `Iolani Palace back in the '60's and they basically saved the building - the state was going to tear it down to make a parking lot. Many of the furnishings in the Palace have come from the family and more will come as older members pass away. When needs have come up (like paying the electric bills!), family members have kicked in hundreds of thousands of dollars. The basement galleries were started with $300,000 in matching funds by a grandaughter of James & Abigail Campbell.

and as a little FYI - all the estate heirs, if they are direct descendents, are kanaka maoli. They just sometimes need to be reminded of that fact. :D and some of them are woefully ignorant of their own family history. It was Mrs. Campbell, along with some other women who started the Ku`e Petition drive back in 1897. They were strong monarchists - even named one of their daughters "Royalist".

(ah, I used to be a docent at `Iolani Palace - got some good education there)

[anapuni808]

The Campbell heirs have already given back very much to the kanaka maoli. Lili`uokalani Kawananakoa Morris formed Friends of `Iolani Palace back in the '60's and they basically saved the building - the state was going to tear it down to make a parking lot. Many of the furnishings in the Palace have come from the family and more will come as older members pass away. When needs have come up (like paying the electric bills!), family members have kicked in hundreds of thousands of dollars. The basement galleries were started with $300,000 in matching funds by a grandaughter of James & Abigail Campbell.

and as a little FYI - all the estate heirs, if they are direct descendents, are kanaka maoli. They just sometimes need to be reminded of that fact. :D and some of them are woefully ignorant of their own family history. It was Mrs. Campbell, along with some other women who started the Ku`e Petition drive back in 1897. They were strong monarchists - even named one of their daughters "Royalist".

(ah, I used to be a docent at `Iolani Palace - got some good education there, plus I worked for the Campbell Estate back in 1964 when they were in the old white building on Fort St., where Pioneer Plaza is today)

[Glen Miyashiro]

Well here we are, 20 years to the day after the death of Beatrice Campbell Wrigley, last daughter of James Campbell. As per the terms of James Campbell's trust, Campbell Estate ceases to exist after midnight (http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20070120/BUSINESS/701200333/1071) tonight, more than a century after James Campbell died in 1900.

[Miulang]

Campbell Estate has now been transformed into James Campbell Co (http://www.bizjournals.com/pacific/stories/2007/01/22/daily22.html?jst=b_ln_hl)., and the majority of its holdings and assets have been transferred from the Campbell Estate to the new company, with only 2 of the 34 heirs electing to cash out their portions entirely.

Miulang