ÿWPCD gsæ÷Ÿ»ˆ2{a敃¶ut›¯öB]ûN,`'$s¡?ƒ`õàXüVÒ[µeÍ€sêŒ"—|&Kü–]ÖVÜëGßÔ ã9g$TîEc}Œ¡‘º!aÒ0´¹Š÷¨Ml£·Ñ¼D°0ìS!h Ïsƒâc¦§×,mÄhÔŽ±„‘xq‰j| ô”dA€ùUABçÜkj“eM½¿ãoæÍ²·À±¼Ïƒ¨{õ q$×^­i³Ì@ÜÓ.xWñÅ'‡õåÚZƒŠê—0ŒRY‘<šŠé­ËE½ß•“›‚RjoJ …£`:Z`‰ŸÉ³íò1:\ÌÌ8 Pû0¥X²gÇéˮî¶ËüFLBI=¨åwBʼnóÑ«yÅÒ-¡ ò(¨1êFFÜÈ8ÛŽ”ÛŒ²­²B®?™aS¼×ñÓc41¶“†©„ ñˆ¸-swY,‹dJÝ}EOg‘Ó}øñg¤šÏ†Lî·¬Ñü/Ýd¿˜ÇĹ¥"V—Ø(B:\[&ÄÁ;D_\¤Ô:‘Û{¶÷N555E777777777777777777777777b999999999999999999999999999999999999 0ëAAAA B,, 0¤I D3í D-  0KMM AS˜Æë 0¤± 0DU A«™˜HP LaserJet 4 Plus,ð,,,,,ð0»®r\-s (`£ª$¡¡Ñ€.ÑÑ8€½­»»d»»d8ÑÑ ý ÑÓ  Ó(í€"  Z6Times New Roman Regularä]ö,B012C8 ˜C:\PROGRA~1\COREL\WORDPE~1\TEMPLATE\CUSTOM~1\REVISE~1.WPTC:\Program Files\Corel\WordPerfect Office 2000\Template\Custom WP Templates\revised standard opinion.wpt3|xÿU‹ÿÀÀÀ(ÖÃ9 Z‹6Times New Roman RegularLevel 1Level 2Level 3Level 4Level 5‚Level 1Level 2Level 3Level 4Level 5„Level 1Level 2Level 3Level 4Level 5…Level 1Level 2Level 3Level 4Level 5ô\  `‹&Times New Roman- ù-(|G2÷û$¤¤Ý ƒ£ª!ÝÑ€.ÑÑ8€³¬»»dd8ÑÑ ý ÑÓ  ÓÝ  Ýà  àòòÚ  Ú0Ú  ÚóóÔ€ôÁTò»»Ô d(|3€"$££Ý ƒ£ª!ÝÑ€.ÑÑ8€³¬»»dd8ÑÑ ý ÑÓ  ÓÝ  ÝVVVV'ÿÿdxd)!ÈÈÈÈdxdx( ±þ$’’ò òFigure€Ú  Ú1Ú  Úó ó^_X`YEþÿ<<CÿÿƒLevel 1Level 2Level 3Level 4Level 5(|3€"$¢¢Ý ƒ£ª!ÝÑ€.ÑÑ8€³¬»»dd8ÑÑ ý ÑÓ  ÓÝ  Ý($$””ò òÚ  Ú1Ú  Úó óX[Z&OLE 2.0 Box <=8ÿÿÿÿÿÿÿÿÿÿCÿÿ HKKKKÝ ƒ£ª!ÝÑ€.ÑÑ8€³¬»»ddÈ8ÑÑ ý ÑÓ  ÓÝ  ÝÔ_ÔÑ  ÑÔ€¼³¬»»»ÔÑ8€º;XXdð»»d8ÑÑ  Ñà@ü ü ìàÔ‡îè³¬ÔIN€THE€COURT€OF€APPEALS€OF€TENNESSEEˆÐ ° Ðà@õõ%ìàAT€JACKSONÔ#†¼³¬»îîè #ԈРÜ, ÐÓ  ÓSeptember€18,€2002€SessionÐ X ÐÔ‡Xº;X»¼³¬ÔÌò òÔ#†¼³¬»XXº;õ#ÔIN€THE€MATTER€OF€THE€ESTATE€OF€JAMES€T.€SANDERSON,Ð  ` ÐDECEASEDòòóóÔ‡Xº;X»¼³¬Ôó óÐ ( x ÐÌà@@½½ìàò òDirect€Appeal€from€the€Chancery€Court€for€Ô_ÔHardemanÔ_Ô€CountyÐ 0 € Ðà@@øøìàNo.€P„1020€€€€€€Roy€B.€Morgan,€ChancellorÐ  p ÐÌÌà@@ìì*ìàßA€V) °°` d€÷E<ï` AßÐ ð@  ÐÌà@@TTìàNo.€W2001„01938„Ô_ÔCOAÔ_Ô„R3„CV€„€Filed€October€28,€Ô_Ô2002Ô_ÔÐ ï?  ÐÌßA€V) °°` dE<Î` AßÐ Ï Ðó óÌÓ  ÓÔ‡ X1 XXXº;ÔThis€case€concerns€the€administration€of€an€estate.€€The€decedentððs€widow€appeals€the€trial€courtððsÐ Î Ðjudgment€claiming€that€it€was€error€to€deny€her€claim€for€an€elective€share€of€the€estate.€€AppellantÐ º  Ðalso€alleges€error€in€the€finding€that€the€administrator€had€not€caused€the€estate€to€suffer€monetaryÐ ¦ö Ðloss€as€a€result€of€actions€taken€by€him€in€his€role€as€administrator.€€We€affirm.Ð ’â ÐÔ#†Xº;XX X1 #ÔÔ#†¼³¬»XXº;#ÔÔ‡Xº;X»¼³¬ÔÓúÓÌò òTenn.€R.€App.€P.€3€Appeal€as€of€Right;€Judgment€of€the€Chancery€Court€Affirmed;€andÐ n¾ ÐRemandedó óÐ ^® ÐÌòòÓ  ÓÔ#†¼³¬»àXº;D#ÔÔ‡Xº;X.¼³¬ÔDavid€R.€Farmer,€J.óó,€delivered€the€opinion€of€the€court,€in€which€òòAlan€E.€Ô_ÔHighersÔ_Ôóó€and€òòHolly€K.Ð >Ž ÐÔ_ÔLillardÔ_Ô,€Ô_ÔJ.J.Ô_Ôóó,€joined.Ð .~ ÐÌCharles€M.€Cary,€Bolivar,€Tennessee,€for€the€appellant,€Shirley€Diane€Sanderson.Ð ^ ÐÌWilliam€C.€Bell,€Jr.,€Jackson,€Tennessee,€for€the€appellee,€Joe€B.€Cole,€Administrator.Ð î> ÐÓÓÌò òOPINIONó óÔ#†¼³¬»XXº;2#ÔÔ‡Xº;X»¼³¬ÔÐ Î!  ÐÌÔ#†¼³¬»XXº;r #ÔÓ  ÓÔ€Xº;X»¼³¬ÔÔ‡ X1 XXXº;Ôà  àJames€T.€Sanderson€(Decedent)€died€testate€on€August€28,€1998.€€The€decedentððs€namedÐ ®#þ" Ðexecutor,€the€Bank€of€Bolivar,€declined€to€serve.€€Subsequently,€decedentððs€wife,€Shirley€SandersonÐ š$ê# Ð(Appellant),€declined€to€serve€as€administrator,€as€did€decedentððs€daughter,€Ô_ÔShereeÔ_Ô€Sanderson€Rudd.€Ð †%Ö $ ÐBoth€parties€recommended€the€appointment€of€Joe€B.€Cole€(Administrator)€as€Administrator.€€Mr.Ð r&Â!% ÐCole€agreed€to€serve€after€being€asked€personally€by€Appellant€if€he€would€do€so.€€Mr.€Cole€wasÐ ^'®"& Ðappointed€Administrator€With€Will€Annexed€on€December€7,€1998.€€Mr.€Coleððs€agreement€toÐ J(š#' Ðadminister€the€estate€appears€to€be€the€last€time€that€he€and€Appellant€agreed€about€any€issue€relatingÐ 6)†$( Ðto€the€estate.€€Ð "*r%) ÐÌà  àAt€the€time€of€his€death,€decedentððs€real€property€included€his€law€office€upon€which€theÐ ú+J'+ ÐBank€of€Bolivar€held€a€note€secured€by€a€deed€of€trust€on€the€building€and€its€contents,€whichÐ æ,6(, Ðincluded€antique€furniture€and€several€thousand€client€files.€€The€decedentððs€Will€provided€thatÐ Ò-")-ý ÐÔ_Ô‡à8  à[s]ubject€to€the€assumption€of€outstanding€debt€secured€by€Trust€Deed€datedÐ ° ÐDecember€18,€1991.€.€.I€give€a€one„third€(1/3)€undivided€interest€to€my€wife€.€.€.€andÐ œì Ða€two„thirds€(2/3)€undivided€interest€to€my€daughter.€.€.€as€tenants€in€common,€in€myÐ ˆØ Ðlaw€office€building.€.€.€together€with€all€furniture€and€fixtures,€including€my€lawÐ tÄ Ðlibrary,€with€the€request€that€the€building€including€furniture€and€fixtures€and€lawÐ `° Ðlibrary€be€leased€to€a€law€firm€and€the€rent€be€used,€first,€to€make€monthly€mortgageÐ L œ Ðpayments€to€the€Bank€of€Bolivar€with€an€appropriate€amount€be€placed€in€escrow€byÐ 8 ˆ Ðthe€Bank€of€Bolivar€to€pay€for€property€taxes€and€insurance€.€.€.€.€Ð$ tÐ Ð  ÐÌà  àApparently,€despite€this€specific€devise€and€a€lack€of€formal€renunciation€of€the€gift,€allÐ ü L  Ðparties€involved€treated€the€law€office€property€as€estate€property€after€Mrs.€Sanderson€refused€toÐ è 8  Ðassume€the€debt€jointly€with€Ms.€Rudd.€€The€sale€of€the€property€was€listed€on€the€Estateððs€1999Ð Ô$  ÐFiduciary€tax€return.€€The€estate€also€included€real€property€in€Tishomingo€County,€Mississippi€andÐ À  ÐJackson,€Tennessee.€€Appellant€takes€issue€with€all€aspects€of€the€Administratorððs€handling€of€theÐ ¬ü  Ðlaw€office€property€from€the€time€she€refused€to€assume€the€debt€through€the€sale€of€the€property.€€Ð ˜è  ÐÌà  àIn€addition€to€her€claim€that€the€Administrator€improperly€managed€the€law€office,€resultingÐ pÀ Ðin€monetary€loss€to€the€estate,€Appellant€also€questions€the€Administratorððs€actions€regardingÐ \¬ Ðpersonalty€held€by€the€estate,€most€notably€a€pickup€truck,€Rolex€watch,€and€diamond€ring,€all€ofÐ H˜ Ðwhich€were€found€to€have€been€properly€sold€pursuant€to€a€court€order.€€Appellant€claims€that€theÐ 4„ ÐAdministratorððs€sale€of€these€items€for€less€than€their€appraised€value€resulted€in€a€loss€to€the€estate.€Ð  p ÐAppellant€asserts€that€the€Administrator€failed€in€other€areas€of€his€estate€administration€as€well,€andÐ  \ Ðthat€such€failure€also€resulted€in€monetary€loss€to€the€estate.€€On€March€29,€1999€the€AdministratorÐ øH Ðfiled€a€motion€seeking€an€extension€of€time€for€Appellant€to€file€her€notice€of€claim€for€electiveÐ ä4 Ðshare.€€This€motion€was€approved€per€an€order€of€May€6,€1999€which€provided€thatÐ Ð  ÐÌà8  àthe€Administrator€W.W.A.€is€allowed€until€May€7,€1999€to€file€an€inventory€for€theÐ ¨ø Ðestate€herein,€or€a€reasonable€time€thereafter,€and€the€surviving€spouse,€ShirleyÐ ”ä ÐSanderson€[Appellant],€shall€be€granted€an€extension€of€time€of€thirty€(30)€days€afterÐ €Ð Ðsaid€inventory€is€filed€within€which€to€file€a€notice€of€dissent€from€the€will.€Ðl¼Ð Ð  ÐÌAppellant€filed€a€motion€for€elective€share€on€May€20,€1999.€€Per€an€order€of€October€22,€1999Ð D!” ÐAppellantððs€motion€was€ð ðreserved,€until€such€time€as€the€[Appellant]€is€able€to€make€an€accurateÐ 0"€  Ðdetermination€of€the€amount€of€claims€to€be€paid€and€the€assets€available€to€the€estate.ðð€€TheÐ #l! ÐAdministrator€filed€a€motion€to€compel€widowððs€election€on€September€13,€2001.€€AppellantÐ $X" Ðanswered€the€motion€claiming€that€the€lack€of€a€cap€on€administrative€and€attorneyððs€fees€wasÐ ô$D # Ðpreventing€her€from€making€an€informed€decision€as€to€her€election.€€Appellantððs€claim€for€anÐ à%0!$ Ðelective€share€was€denied€by€an€order€of€January€2,€2002.€€The€trial€court€also€found€that€theÐ Ì&"% ÐAdministrator€was€not€responsible€for€losses€suffered€by€the€estate.€€This€appeal€ensued.€Ð ¸'#& ÐÌ€à  àThe€extensive€procedural€history€of€this€case,€comprising€a€technical€record€of€two€hundredÐ )à$( Ðand€seventy€one€pages,€is€well€known€to€the€parties€and€does€not€bear€repeating.Ð |*Ì%) ÐÐ h+¸&* ÐÓ  Óòòò òIssues€Presentedóóó óÐ ° ÐÓ· ÓÌà  àMrs.€Sanderson€asserts€that€the€trial€court€committed€the€following€errors,€which€she€presentsÐ „Ô Ðfor€our€review:Ð pÀ ÐÌà8  àà ` à(1)€The€trial€court€was€in€error€in€approving€the€Administratorððs,€c.t.a.Ð H ˜ Ðpayments€to€the€Bank€of€Bolivar.Ð4 „Ð Ð  ÐÌà8  àà ` à(2)€The€trial€court€was€in€error€in€approving€the€Administratorððs,€c.t.a.Ð  \ Ðpayment€of€office€utilities€and€expenses.Ðø H Ð Ð  ÐÌà8  àà ` à(3)€The€trial€court€was€in€error€in€finding€that€the€Administrator,€c.t.a.€timelyÐ Ð  Ðand€properly€sold€the€pickup€truck,€Rolex€Watch,€and€diamond€ring.м Ð Ð  ÐÌà8  àà ` à(4)€The€trial€court€was€in€error€in€not€finding€that€the€Administratorððs,€c.t.a.Ð ”ä  Ðfailure€to€invest€funds€was€improper.ЀРРР ÐÌà8  àà ` à(5)€The€trial€court€was€in€error€in€approving€the€Administratorððs,€c.t.a€failureÐ X¨ Ðto€pay€estimated€tax€payments.ÐD”Ð Ð  ÐÌà8  àà ` à(6)€The€trial€court€was€in€error€in€not€finding€that€the€Administratorððs,€c.t.a.Ð l Ðfailure€to€pay€the€funeral€expenses€was€improper.ÐXÐ Ð  ÐÌà8  àà ` à(7)€The€trial€court€was€in€error€in€not€finding€that€the€Administratorððs,€c.t.a.Ð à0 Ðaction€to€dissolve€the€professional€corporation€was€untimely.ÐÌÐ Ð  ÐÌà8  àà ` à(8)€The€trial€court€was€in€error€in€not€finding€that€the€estate€had€sufferedÐ ¤ô Ðmonetary€losses€due€to€the€failure€of€the€Administrator,€c.t.a.€to€timely€and€properlyÐ à Ðadminister€the€estate.Ð|ÌÐ Ð  ÐÌà8  àà ` à(9)€The€trial€court€was€in€error€in€denying€the€widowððs€claim€for€an€electiveÐ T ¤ Ðshare.Ð@!Ð Ð  ÐÌà8  àà ` à(10)€The€trial€court€was€in€error€in€denying€the€widowððs€claim€for€attorneyÐ #h! Ðfees€and€approving€attorney€fees€and€Administrator,€c.t.a.€fees€in€the€total€sum€ofÐ $T" Ð$45,000.00.Ðð$@ #Ð Ð  ÐÌò òÓ  ÓòòÔ#†Xº;XX X1 õ #ÔÔ‡X1 XXXº;ÔStandard€of€Reviewó óÐ È&"% ÐÌÓ*Óà8  àóóIn€a€civil€action€we€review€a€trial€courtððs€findings€of€fact€òòò òde€novoóóÔ#†Xº;XXX1 5*#ÔÔ‡X1 XXXº;Ô€ó óupon€the€record€of€Ð œ(ì#' Ðâ âà ° àthe€trial€court.€€Such€review€is€accompanied€by€a€presumption€of€correctness,€unless€the€ÐŒ)Ü$(Ð Ð  Ðevidence€preponderates€against€such€findings.€€Tenn.€R.€App.€P.€13(d);€ò òòòBrooks€v.€Brooksóóó ó,€992Ð ° ÐS.W.2d€403,404€(Tenn.€1999).€€Questions€of€law€are€reviewed€òòò òde€novoóóó ó,€with€no€presumption€ofÐ œì Ðcorrectness.ò òòò€€Nelson€v.€Wal„Mart€Stores,€Inc.óóó ó,€8€S.W.3d€625,€628€(Tenn.€1999).Ô#†Xº;XXX1 +#ÔÔ‡ X1 XXXº;Ôò òÐ ˆØ Ðâ âÌó óà  àAppellant€raises€ten€issues€on€appeal.€As€we€view€this€matter,€a€finding€that€the€trial€courtÐ `° Ðdid€not€err€in€holding€that€the€estate€had€suffered€no€monetary€loss€due€to€the€failure€of€theÐ L œ ÐAdministrator€to€timely€and€properly€administer€the€estate€(issue€number€eight),€would€renderÐ 8 ˆ Ðdiscussion€of€issues€one€through€seven€moot,€as€each€of€these€assignments€of€error€is€alleged€to€haveÐ $ t Ðcaused€the€estate€to€suffer€monetary€loss.€€We,€therefore,€begin€our€discussion€with€AppellantsÐ  ` Ðassignment€of€error€number€eight.Ð ü L  ÐÌÓ  Óòòò òFailure€of€Administrator,€c.t.a.€to€Timely€and€Properly€Administer€the€EstateÐ Ô$  ÐÌÓ-0Óà  àó óóóAppellant€appears€to€be€of€the€opinion€that€the€Administrator€breached€his€duty€by€failing€toÐ ¤ô  Ðmaximize€the€return€on€each€transaction€involving€the€estate.€€In€fact,€Appellant€has€gone€to€greatÐ à  Ðlengths€to€document€what€she€perceives€to€be€losses€suffered€by€the€estate€as€a€result€of€actions€taken,Ð |Ì  Ðor€failed€to€have€been€taken,€by€the€Administrator.€€Administrators€are€not,€however,€insurers.€€òòò òSeeó óóóÐ h¸ Ðòòò òYoung€v.€Phillipsó óóó,€93€S.W.2d€634,€636€(Tenn.€1936).€€While€it€is€easy€to€put€pencil€to€paper€afterÐ T¤ Ðthe€fact€and€determine€that€another€course€of€action€may€have€been€more€beneficial€to€the€estate,€theÐ @ Ðwell€established€rule€in€Tennessee€is€that€ð ðthe€situation€as€it€appeared€at€the€time€must€be€consideredÐ ,| Ðin€testing€the€liability€of€[an€administrator,]ððòòò òó óóó€for€ð ð[i]t€is€an€obvious€truth€that€ðða€wisdom€developedÐ h Ðafter€an€event,€and€having€it€and€its€consequences€as€a€source,€is€a€standard€[by€which]€no€manÐ T Ðshould€be€judged€.€.€.€.ðððð€€òòò òIdó óóó.€(citation€omitted).€€It€is€easy€for€Appellant€to€calculate€theoretical€lossesÐ ð@ Ðbased€on€actions€which€could€have€been,€but€were€not,€taken€by€the€Administrator.€€TheÐ Ü, ÐAdministrator,€however,€constrained€by€information€available€at€the€moment,€does€not€share€thisÐ È Ðbenefit€of€hindsight.€€Accordingly,€€ð ð[t]he€facts€must€be€considered€as€they€presented€themselves€atÐ ´ Ðthe€time€the€[administrator]€acted,€and€not€from€the€illuminated€viewpoint€of€subsequent€events.ðð€Ð  ð Ðòòò òId.ó óóó€(citingòòò ò€United€States€v.€Am.€Bell€Tel.€Co.ó óóó,€167€U.S.€224,€261€(1897)).€€It€is€merely€a€truism€thatÐ ŒÜ Ðð ð[a]€wisdom€born€after€the€event€is€the€cheapest€of€all€wisdom.€€Anybody€could€have€discoveredÐ xÈ ÐAmerica€after€1492.ðð€€òòò òAm.€Bell€Tel.€Co.ó óóó,€167€U.S.€at€261.€Ð d´ ÐÌà  àThe€trial€court€found€that€ð ð[t]he€Administrator€was€selected€to€serve€at€Ms.€SandersonððsÐ