ÿWPCó# …# VUNa %¯ 0µU:Ñ 4  0Ã. 0Dñ 5 0J5w 0T 0^ã 0hA 0r© 0| 0†— 0 1u­U," 0dNU,² BÞU>ûU*9U*cB)DC¶ AMùµFfû D3a)”v~½ 0@;vÓ{ AON"Æ" 0Dc# D/§# BÖ#˜HP LaserJet 4Si/4SiMX PS 600dpiPSCRIPTÀÌÀääÀÀÌ0†(ÈhH  Z ‹6Times New Roman RegularX(ô%$¡¡ÑTR[  AØ'ÿ Legal[  AØ'ÿ Legal AØ'ÿ Legal AØ'ÿ LegalTÑÑÑÑÑÒ°ÒÒ„°ÒÔ€XhXXXÔÓÓÑ7€hXXdðXXdð7Ñ, øð AZ‹"Arial RegularnnG øð 3|x?(s(2&ú$¤¤Ý ƒ%!ÝÑTR[¤ AØ'ÿ Legal3Ø' AØ'ÿ Legalÿ3Ø'TÑѰÑѰÑÒ°ÒÒ„°ÒÔ€X·XXXÔÓÓÑ7€5dXXdìdì7ÑÝ  ÝÔ€òç„òXX·ÔѰÑѰÑÒ°ÒÒ°„ÒÓ  Óà  àòòÚ  Ú0Ú  Úóó(#Ã$òòÚ  Ú0Ú  Úóó2 ÿÿ0Indent1Ô2ÔÔ3  Ô5Ó€?2" ÿÿ0Indent2à0 àÔ2ÔÔ3  Ô2, ÿÿ0Indent3à0 àà0 àÔ2ÔÔ3  Ô26 ÿÿ0Indent4à0 àà0 àà0 àÔ2ÔÔ3  Ô2@ ÿÿ0Indent5à0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô2J ÿÿ0Indent6à0 àà0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô2T ÿÿ0Indent7à0 àà0 àà0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô2^ ÿÿ0Indent8à0 àà0 àà0 àà0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô  ÿÿ?AGMSYaioIndent0I.A.1.a.(1)(a)i)a)< Œ 9p`(ModernP ÿÿ8Mac DefaultMac DefaultÓ ` °šXÓ< Œ 9p`(Monaco d< Œ 9p`(&Times New Roman< Œ 9p`(Arial< Œ 9p`(Times% Line 7 d%%%%7Border 1dd€-&Cþÿ << Gÿÿ «Ý ƒ!ÝÔ€ÔÔ€"ÔÑ\R AØ'\ÑÑ  ÑÑ  ÑÒ  ÒÒ „ ÒÔ€#ÔÓÓÑ#€d#ÑÝ  ÝÔ€#ÔÓ  Óò òÔ YYY ÔFILEDÔ€#XÔÌÌFebruaryÏ28,Ï1996ÌÌCecilÏW.ÏCrowsonÌAppellateÏCourtÏClerkÔ  Ôó ó \Ñ\R AØ'\Ñ!!!!'ÿÿdxd Ý ƒ!ÝÑ#€d#ÑÔ€ÔÔ€"ÔÑ\R AØ'\ÑÑ  ÑÑ  ÑÒ  ÒÒ „ ÒÔ€#ÔÓÓÑ#€d#ÑÝ  ÝÝ ƒ $ÝÔ€#ôÔÑ ° ÑÑ ° ÑÒ ° ÒÒ ° ÒÓ  Óà àòòÚ  ÚÚ  ÚóóÝ  ÝÓÓÓ` °ˆXQÈ“XÓA€defined€benefit€plan€may€be€explained€as€follows:€€"A€defined€benefit€plan€is€a€plan€establishedÏand€maintained€by€an€employer€primarily€to€provide€systematically€for€the€payment€of€definitelyÏdeterminable€benefits€to€employees€or€employers€over€a€period€of€years,€usually€for€life,€after€retirement."Ï60A€Am.Jur.2d€òòPension€and€Retirement€Fundsóó€ðð€14€(1988).€€A€defined€contribution€plan,€by€contrast,Ïentitles€the€retiree€to€the€full€amount€of€contribution€attributable€to€him,€regardless€of€the€retiree's€date€ofÏdeath.€€òòIdóó.€at€ðð€15.€ÌPtPtHHÚ(ÿáÿâùFG(üHHÚ(d'@("ÿÿ$££Ò  ÒÒ  ÒStyl{WP}01•ÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃà Ãà Ãà Ãà Ãà ÃÃÃÃÃÃÃÃÃÃÃÐ ÐÐHHÐÐ  ÐÐ2ÐÐÿÿ¸æ$ÿÐÐHHÐÐÐÐÐÐÐÐ  ÐÐ ÐÐ ÐÑÑÑGenevaÑÑ ÑÑ € ÑÑ<Px–ÈÑÒÒÒ443!#4ÒÒ$ *$ÒÒ$*$ÒÒ ÿKK ÒÒ  Geneva ÒÒ  Geneva ÒÓ.,ÓÓÓÓ6ÓÓ ÓßßßßßßßßßßßßßßßßßßÑMonacoÑÑ ÑÒ  BA: T Monaco ÒÒ  BA: T Monaco Ò€-‚ƒCþÿ<< CÿÿƒLevel 1Level 2Level 3Level 4Level 5($$””ò òÚ  Ú1Ú  Úó ó„„'÷ÿ dxdüÿP PdÝ ƒ!ÝÔ . ÔÔ€ÔÓ&€  X„d&ÓÑ#€  Xd#ÑÔ€"ÔÑ\R AØ'\ÑÑ  ÑÑ  ÑÒ  ÒÒ „ ÒÔ€#ÔÓÓÑ#€$$Xd#ÑÑ#€$$Xd#ÑÝ  ÝÒ ° ÒÒ ° ÒÓ  ÓÑ ° ÑÑ ° ÑÑ7€5dXXdìXXdì7ÑÓÓà@ àò òIN€THE€COURT€OF€APPEALS€OFÏTENNESSEEÌà@ àWESTERN€SECTION€ATÏNASHVILLEÌÌÌCHARLES€GEORGE€PETTY,à àà à)€€Ìà àà àà àà àà àà à)Ìà àà àó óPlaintiff/Appellant,à àà àò ò)€€HickmanÏChancery€No.€9310254Ìà àà àà àà àà àà à)€€Ìà àà àà àà àà àà à)ÌVS.à àà àà àà àà àà à)€€Appeal€No.Ï01A01„9508„CH„00349Ìà àà àà àà àà àà à)ÌSUSAN€FLORINTINE€PETTY,à àà à)Ìà àà àà àà àà àà à)Ìà àà àó óDefendant/Appellee.à àò ò)ó óÌÌÌà@ àAPPEAL€FROM€THE€CHANCERYÏCOURT€OF€HICKMAN€COUNTYÌà@ àAT€€CENTERVILLE,€TENNESSEEÌà@ àTHE€HONORABLE€CORNELIA€A.ÏCLARK,€CHANCELLORÌÙ€€ÙßL€'(&;+'h|7` à. `€€LßÌÌÌÌÌÌò òDICK€CLARKÌCLARK,€BALTIMORE€AND€REEVESÌó óNashville,€TennesseeÌAttorney€for€AppellantÌÌÌÌò òDOUGLAS€THOMPSON€BATES,€IIIÌó óCenterville,€TennesseeÌAttorney€for€AppelleeÌÌÌÌÌÌò òAFFIRMEDÌÌÌÌÌÌó óà àà àà àà àà àà àà àà àà àò òALAN€E.€HIGHERS,€J.ÌÌÌÌCONCUR:ÌÌW.€FRANK€CRAWFORD,€P.J.,€W.S.ÌÌDAVID€R.€FARMER,€J.Ìó óà àÌÌÌÌÌÑ€)ÑÇÑ7€5dXXdìXXdì7ÑÌÓÓà àThis€appeal€raises€several€questions€concerning€the€lower€court's€division€ofÏmarital€property€pursuant€to€a€final€decree€of€divorce.€€Plaintiff„Appellant,€CharlesÏGeorge€Petty€("Husband"),€appeals€the€trial€court's€award€of€certain€real€property€toÏDefendant„Appellee,€Susan€Florintine€Petty€("Wife"),€as€well€as€the€lower€court'sÏvaluation€of€Husband's€pension.€€ÌÌà àHusband€and€Wife€were€married€for€over€32€years.€€Husband€filed€for€divorce€onÏthe€ground€of€adultery,€pursuant€to€T.C.A.€€ðð€36„4„101(3)€(Michie€1991).€The€partiesÏstipulated€that€Husband€was€entitled€to€divorce€on€this€ground.€€The€parties€had€noÏminor€children€at€the€time€of€the€divorce,€and€no€alimony€was€awarded.€ÌÌà àHusband's€first€issue€on€appeal€is€as€follows:ÌÓÓà8 àà8 àDid€the€trial€court€err€in€awarding€a€tract€of€land€toÏDefendant€Wife€that€Plaintiff€Husband€needs€for€his€cattleÏgrazing€operation€when€Defendant€Wife€has€no€use€for€theÏland€and€a€more€equitable€division€of€the€marital€estateÏcould€easily€be€made?ÌÓÓÌà àSince€this€case€was€tried€by€the€court€sitting€without€a€jury,€we€review€the€caseÏòòde€novoóó€upon€the€record€with€a€presumption€of€correctness€of€the€findings€of€fact€by€theÏtrial€court.€€Unless€the€evidence€preponderates€against€the€findings,€we€must€affirm,Ïabsent€error€of€law.€€T.R.A.P.€13(d)€(Michie€1995).€€€ÌÌà àTrial€courts€have€broad€discretion€in€the€division€of€marital€assets.€€òòFisher€v.ÏFisheróó,€648€S.W.2d€244,€246€(Tenn.€1983).€€This€Court€places€great€weight€on€theÍlower€court's€decisions,€and€will€not€generally€disturb€those€decisions€unless€theÏdivision€results€in€an€error€of€law€or€a€misapplication€of€statutory€requirements.€€ÏòòThompson€v.€Thompsonóó,€797€S.W.2d€599,€604€(Tenn.€App.€1990);€òòEdwards€v.ÏEdwardsóó,€501€S.W.2d€283,€288€(Tenn.€App.€1973).€€ÌÌà àIn€the€case€at€bar,€the€parties€acquired€a€sizeable€amount€of€real€propertyÏduring€the€marriage.€€After€the€lower€court€filed€its€proposed€Order€of€JudgmentÏdividing€the€parties'€assets,€Husband€filed€a€Motion€to€Alter€or€Amend€pursuant€toÏTenn.€R.€Civ.€P.€59.04€(Michie€1995).€€The€Motion€did€not€dispute€the€trial€court'sÏdivision€of€the€property€generally;€rather,€Husband€argued€that€the€lower€court€shouldÏhave€awarded€him€a€specific€17€acre€tract€of€land€called€Garner's€Creek€or€the€BreeceÏProperty.€€According€to€Husband,€this€land,€which€lies€between€two€of€Husband'sÏpasture€tracts,€is€necessary€for€the€successful€operation€of€Husband's€cattle€operation.€ÏWithout€the€Garner's€Creek€property,€Husband€states€that€he€will€be€forced€toÏperiodically€load€his€cattle€in€trucks€and€drive€them€to€another€tract€to€graze€and€getÏwater.€€Husband,€who€is€retired,€receives€supplemental€income€from€the€cattleÏoperation.€€€Husband€offered€to€pay€Wife€$25,000,€the€agreed€value€of€the€property,€inÏexchange€for€the€Garner's€Creek€tract.€€ÌÌà àWife€testified€that€she€wanted€the€land€at€Garner's€Creek€because€there€areÏnatural€boundary€lines€between€the€Garner's€Creek€property€and€other€propertyÏawarded€to€Husband.€€ÌÌà àWe€are€not€unmindful€of€the€difficulties€that€may€be€created€for€Husband€due€toÏWife's€ownership€of€the€Garner's€Creek€property;€however,€we€find€no€evidence€thatÏthe€lower€court€misapplied€the€law€or€statutes€in€its€division€of€the€parties'€assets.€€WeÏagree€with€the€statement€made€by€the€trial€court,€in€reference€to€its€decision€not€toÏchange€the€original€order€awarding€Wife€the€Garner's€Creek€property:ÌÓÓà8 àà8 àThis€is€one€of€those€cases€where€both€parties€want€theÏsame€piece(s)€of€real€property€and€where€someÏinconvenience€will€occur€to€one€of€the€partiesÏnotwithstanding€what€distribution€is€made.€€This€is€inherentÏin€the€division€of€assets€which€occurs€after€any€divorce,Ïparticularly€where€the€marriage€has€been€lengthy€and€theÏparties€have€acquired€substantial€property.ÌÓÓÌà àHusband's€second€issue€on€appeal€is€whether€the€trial€court€erred€in€itsÏvaluation€of€Husband's€pension€by€charging€the€value€of€the€pension€againstÏHusband's€share€of€the€marital€estate.€€ÌÌà àHusband€worked€at€Ford€Glass€Company€for€approximately€thirty„two€years.€ÏHusband€retired€in€September€1992.€€€Since€that€time,€Husband€has€received€aÏdefined€benefit€of€$1,832€per€month.× ƒ+ ××  ×€€€€Husband€argues€that€his€pension€should€beÏtreated€as€an€income€stream.€€He€argues€that€the€pension€has€no€calculable€valueÏbecause€it€terminates€upon€his€death.€€Wife€contends€that€the€pension€is€a€maritalÏasset€which€is€subject€to€equitable€distribution.€€ÌÌà àThe€parties€agreed€to€use€the€mortality€tables€contained€in€T.C.A.€v.€13,€at€Ï1035„36€(Michie€1995)€to€determine€the€value€of€Husband's€pension.€€The€courtÏmultiplied€the€amount€of€the€monthly€payment€times€the€number€of€monthly€paymentsÏHusband€would€receive€(using€an€actuarial€table).€€The€court€concluded€thatÏHusband's€pension€was€worth€$221,532.€ÌÌà àIt€is€well€established€that€the€value€of€a€vested€pension€is€included€in€the€maritalÏestate,€òòThompson€v.€Thompsonóó,€797€S.W.2d€at€604,€and€subject€to€distribution.€€€T.€C.ÏA.€ðð€36„4„121€(b)(1);€òòBatson€v.€Batsonóó,€769€S.W.2d€849,€857€(Tenn.€App.€1988).€€InÏòòBatsonóó,€the€court€stated:ÌÓÓà8 àà8 à[Retirement]€benefits€to€be€paid€in€the€future€representÏdelayed€compensation€for€work€performed€over€the€years€ofÏemployment.€€To€the€extent€earned€during€the€€marriage,€theÏbenefits€represent€compensation€for€marital€effort€and€areÏsubstitutes€for€current€earnings€which€would€haveÏincreased€the€marital€standard€of€living€or€would€have€beenÏconverted€into€other€assets€divisible€at€dissolution.€òòÌÌÓÓIdóó.€(citing€3€òòFamily€Law€&€Practice€óóðð€37.07[1],€at€37„81€(1988);€I.€Baxter,€òòMaritalÏPropertyóó€ðð€11:2€(Cum.€Supp.€1988)).ÌÌà àIn€òòSharp€v.€Sharpóó,€No.€01„A„A„01„9403„CH„00090,€1994€WL€581478€(Tenn.ÏApp.€Oct.€21,€1994),€the€court€considered€a€similar€question€regarding€valuation€of€aÏdefined€pension€plan.€€€€In€that€case,€the€husband€argued€that€the€most€accurate€way€toÏvalue€his€pension€was€the€"cash€out"€method;€that€is,€the€amount€of€money€he€wouldÏreceive€if€he€withdrew€from€the€retirement€system€at€the€date€of€the€divorce.€€The€wifeÍargued€that€the€value€of€the€pension€could€be€determined€by€multiplying€the€amount€ofÏthe€monthly€check€husband€would€receive€upon€retirement€times€the€total€number€ofÏchecks€he€would€receive,€as€derived€from€actuarial€tables.€€In€adopting€the€methodÏproposed€by€wife,€the€òòSharpóó€court€stated:€€ÌÓÓà8 àà8 àWhile€this€method€is€less€precise€than€that€proposed€by€.€.€.Ï[husband],€since€it€depends€on€the€happening€of€events€inÏthe€future€that€cannot€be€known€with€certainty,€it€is€perhapsÏmore€accurate€.€.€.€and€it€is€clear€that€such€a€resignationÏ[from€the€retirement€plan]€would€have€resulted€in€aÏsubstantial€reduction€in€the€value€of€his€pension€rights.€€ÌÌòòIdóó.€at€*8.€€ÌÌÌÓÓà àWe€are€in€accord€with€the€rationale€employed€in€òòSharpóó.€€Although€notÏcompletely€precise,€Wife's€proposed€method€of€valuing€Husband's€pension€is€the€bestÏmeans€which€has€been€presented€to€this€Court€to€ascertain€the€pension's€value.ÏAlthough€Husband's€counsel€did€not€object€at€trial€to€Wife's€counsel€using€the€mortalityÏtables€contained€in€T.C.A.€to€value€Husband's€pension,€counsel€maintained€thatÏHusband's€pension€had€no€value.€ÌÌà àWe€find€Husband's€suggestion€that€the€pension€has€no€value,€because€theÏlength€of€time€he€will€receive€payments€cannot€be€ascertained,€to€be€without€merit.€ÏThere€are€few€income„stream€producing€assets€the€value€of€which,€at€various€points€inÏthe€future,€is€certain.€Such€assets€nonetheless€form€part€of€the€marital€estate€and€areÏsubject€to€distribution€upon€divorce.€€We€hold€that€the€trial€court€did€not€err€in€itsÏmethod€of€valuing€Husband's€pension.à àÌÌà àWife€asks€this€Court€to€find€that€Husband€has€presented€a€frivolous€appealÏpursuant€to€T.C.A.€ðð€27„1„122€(Michie€1980).€€We€decline€so€to€hold.ÌÌÌÌÌà àFor€the€reasons€stated€herein,€the€decision€of€the€trial€court€is€affirmed.€€CostsÏon€appeal€are€taxed€to€Husband€for€which€execution€may€issue,€if€necessary.€€ÌÌÌÌÓÓà àà àà àà àà àà àà àà àòò€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€Ïóóà àà àà àà àà àà àà àà àHIGHERS,€J.ÌÌCONCUR:ÌÌÌòò€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€óóÌCRAWFORD,€P.J.,€W.S.ÌÌÌòò€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€óóÌFARMER,€J.€€€€à àà àà àà àà àà àà àà à€