ÿWPCú' %“ÅT¥äÑ@f‹!€ÏuXj®ùÚ¦ òå•Áo›.Æ3ÅPréô1~v( ÷Uh„O“u4l vé;‹“'©àª½Ì7í*ˆÔ÷¤iPQ2 ƒˆqñä ïf±?/ƒÀ-ã@]¯QÂvðÏ´¤m°jR¹ó ÖvÔ ìwB 2Ƭ&è Ëø%¼”ÈfcŒ‹p4ßZ™VDžÄH*àÌÖ?“&'òø ØLåcÏIµ`£”å#>Ÿz‡Üh÷ð¦LG¾^†{Ðõ~SSt®”¿X”qV£¹³ ŠÆiÊLb %\^ b 0ˆnwöUNú4H\ zkÒå· m¹ #ÁÐ à‘ Æq Æ7 Æý ÆÃ 0 D‰NÍæÏÏEµÄ·Å{D@M„eÑÑ66ºÓÓ­©:€ããŒc!c!c!c!c!c!c!c!c!bï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï"ï" 0 ë÷"÷"÷"÷" Bâ#â# 0¤ÿ# D3£$ D-Ö$ 0K%% ASN%Æ¡% 0¤g& 0D ' A«O'»1§Š+s (`£ª$¡¡Ñ€.ÑÑ8€½­»»d»»d8ÑÑ ý ÑÓ  Ó(í€"  Z6Times New Roman Regular8n_+ê:i¢×+003|x ˜C:\PROGRA~1\COREL\WORDPE~1\TEMPLATE\CUSTOM~1\REVISE~1.WPTC:\Program Files\Corel\WordPerfect Office 2000\Template\Custom WP Templates\revised standard opinion.wptÿU‹ÿÀÀÀ˜HP LaserJet 4050 Series PCL 6ÈÈ,,,,ÈÈ0 ÖÝ ƒR ]$ÝÓ  Óà  àòòÚ  Ú1Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔMr.€Wakefield€had€a€fifth€child€who€predeceased€him.€€This€child€had€two€minor€children.Level 1Level 2Level 3Level 4Level 5‚Level 1Level 2Level 3Level 4Level 5„Level 1Level 2Level 3Level 4Level 5…Level 1Level 2Level 3Level 4Level 5(#Ã$òòÚ  Ú0Ú  Úóó ÜÝ ƒR ]$ÝÓ  Óà  àòòÚ  Ú2Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔFeldkircher€Wireððs€business€was€seasonal,€and€so€it€employed€between€150€and€300€employees. ºÝ ƒR ]$ÝÓ  Óà  àòòÚ  Ú4Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_Ô475.9€hrs.€ð'ð€$125/hr.€=€$59,487.50€„€$50,000€=€$9,487.50. »Ý ƒR ]$ÝÓ  Óà  àòòÚ  Ú5Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_Ô496.3€hrs.€ð'ð€$125/hr.€=€$62,037.50€„€$50,000€=€$12,037.50. :Ý ƒR ]$ÝÓ  Óà  àòòÚ  Ú3Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔThe€probate€courtððs€suggestion€occurred€when€the€court€reporter€was€not€present.€€However,€the€court€laterÐ ° Ðconfirmed€on€the€record€that€the€suggestion€had€been€made. CÝ ƒR ]$ÝÓ  Óà  àòòÚ  Ú6Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔThe€trial€court€must€have€arrived€at€the€$19,€375€amount€by€rounding€Mr.€Ô_ÔPursellÔ_Ôððs€billable€hours€up€to€155Ð ° Ðand€then€multiplying€by€$125/hr.€€ [Ý ƒR ]$ÝÓ  Óà  àòòÚ  Ú7Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔÔ_ÔòòZuccarelloÔ_Ô€v.€Erwinóó,€2€Tenn.€App.€491,€498€(1926).€€Of€course,€the€circuit€court€also€plays€a€role€inÐ ° Ðdetermining€a€willððs€validity€if€the€will€is€contested.€€Ô_ÔòòBearmanÔ_Ô€Ô_Ôv.Ô_Ô€Ô_ÔCamatsosÔ_Ôóó,€215€Tenn.€231,€238,€385€S.W.2d€91,€94Ð tÄ Ð(1964);€òòCooper€v.€Austinóó,€837€S.W.2d€606,€610€(Tenn.€Ct.€App.€1992).€€ “Ý ƒR ]$ÝÓ  Óà  àòòÚ  Ú8Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔTenn.€Code€Ann.€ðððð€30„2„301(a),€„601(a)€(2001);€Ô_ÔòòMcFarlinÔ_Ô€v.€Ô_ÔMcFarlinóóÔ_Ô,€785€S.W.2d€367,€370€(Tenn.€Ct.€App.Ð ° Ð1989);€òòBishop€v.€Youngóó,€780€S.W.2d€746,€750„51€(Tenn.€Ct.€App.€1989). °Ý ƒR ]$ÝÓ  Óà  àòòÚ  Ú9Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔTenn.€Code€Ann.€ðððð€30„2„319,€„402(a)€(2001). £Ý ƒR ]$ÝÓ  Óà  àòòÚ  Ú10Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔTenn.€Code€Ann.€ðð€30„2„701€(2001);€Ô_ÔòòMcFarlinÔ_Ô€v.€Ô_ÔMcFarlinóóÔ_Ô,€785€S.W.2d€at€370;€òòState€ex€rel.€Burrow€v.Ð ° ÐÔ_ÔCothronóóÔ_Ô,€21€Tenn.€App.€519,€529„30,€113€S.W.2d€81,€87€(1937). ŸÝ ƒR ]$ÝÓ  Óà  àòòÚ  Ú11Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔA€shareholderððs€derivative€action€is€one€brought€by€one€or€more€shareholders€on€a€corporationððs€behalf€toÐ ° Ðredress€injury€sustained€by€or€to€enforce€a€duty€owed€to€a€corporation.€€òòLewis€v.€Boydóó,€838€S.W.2d€215,€221€(Tenn.€Ct.Ð tÄ ÐApp.€1992). vÝ ƒR ]$ÝÓ  Óà  àòòÚ  Ú12Ú  ÚóóÔ€ôêñò»»ÔÝ  ÝÔ_ÔContrary€to€the€general€law€vesting€probate€jurisdiction€in€the€chancery€courts,€Tenn.€Code€Ann.€ðð€16„16„201Ð ° Ð(1994),€the€Seventh€Division€of€the€Circuit€Court€for€the€Twentieth€Judicial€District€exercises€exclusive€jurisdiction€overÐ tÄ Ðthe€probate€of€wills€and€the€administration€of€estates€in€Davidson€County.€€Act€of€May€17,€1995,€ch.€62,€ðð€1,€1995€Tenn.Ð 8ˆ ÐPriv.€Acts€127.€€Even€though€the€circuit€court€has€subject€matter€jurisdiction€to€adjudicate€shareholder€derivative€actions,Ð üL Ðit€cannot€do€so€when€it€is€exercising€its€special€probate€jurisdiction€because€no€statute€relating€to€the€probate€of€wills€orÐ À Ðthe€administration€of€estates€vests€a€probate€court€with€subject€matter€jurisdiction€over€shareholder€derivative€claims.€Ð „Ô ÐBy€their€very€nature,€these€claims€belong€to€a€corporation€and€cannot,€therefore,€be€considered€assets€of€a€deceasedÐ H ˜ Ðstockholderððs€estate.€ MurreyFeldkircherPursellWhisenantSandlinterrorem a]ll enforceabilityNationsBankcolorablePerlbergunrebuttedMatlockMeighanDishmon CmtyNatlRolich- ù-(|G2 ]$¤¤Ý ƒ£ª!ÝÑ€.ÑÑ8€W™»»dd8ÑÑ ý ÑÓ  ÓÝ  Ýà  àòòÚ  Ú0Ú  ÚóóÔ€ôêñò»»Ô d(|3‡$££Ý ƒ£ª!ÝÑ€.ÑÑ8€W™»»dd8ÑÑ ý ÑÓ  ÓÝ  ÝVVVV'ÿÿdxd)!ÈÈÈÈdxdx( ±þ$’’ò òFigure€Ú  Ú1Ú  Úó ó^_X`YEþÿ<<CÿÿƒLevel 1Level 2Level 3Level 4Level 5(|3‡$¢¢Ý ƒ£ª!ÝÑ€.ÑÑ8€W™»»dd8ÑÑ ý ÑÓ  ÓÝ  Ý($$””ò òÚ  Ú1Ú  Úó óX[Z&OLE 2.0 Box <=8ÿÿÿÿÿÿÿÿÿÿCÿÿ HKKKKÝ ƒ£ª!ÝÑ€.ÑÑ8€W™»»ddÈ8ÑÑ ý ÑÓ  ÓÝ  ÝÔ_ÔÑTRY,3Ø'LetterXà3Ø' Letter 3Ø' Letterÿ3Ø'TÑÑH°ÑÑ  ÑÔ€¼W™»»»ÔÑ8€¥XXdì»»d8ÑÑ  Ñà@ü ü ìàÔ‡îTXW™ÔIN€THE€COURT€OF€APPEALS€OF€TENNESSEEˆÐ ° Ðà@kk$ìàAT€NASHVILLEÔ#†¼W™»îîTXn#ԈРÖ& ÐÓ  ÓMay€6,€1999€SessionÐ üL ÐÔ‡X¥X»¼W™ÔÌò òÔ#†¼W™»XX¥R#ÔIN€RE:€ESTATE€OF€M.€L.€WAKEFIELDòòóóó óÐ úJ ÐÌÔ€X¥X»¼W™Ôà@@½½ìàò òAppeal€from€the€Probate€Court€for€Davidson€CountyÐ  p Ðà@@øøìàNo.€94P1917€€€€€€Frank€G.€Clement,€Jr.,€JudgeÐ  \ ÐÌÌà@@ìì*ìàßA€V) °°` d€÷E<Ï` AßÐ Ð  ÐÌà@@TTìàNo.€M1998„00921„Ô_ÔCOAÔ_Ô„R3„CV€„€Filed€December€10,€Ô_Ô2001Ô_ÔÐ Ë  ÐÌßA€V) °°` dE<¢` AßÐ £ó  Ðó óÌÓ  ÓÌÓÓÓ  ÓòòWilliam€C.€Koch,€Jr.óó,€J.,€concurring€in€part€and€dissenting€in€part.Ð ŠÚ ÐÌÌà  àThis€appeal€marks€the€end€of€an€internecine€struggle€between€the€adult€children€of€a€deceasedÐ Nž Ðbusiness€executive€and€the€two€non„family€co„executors€of€his€estate.€€After€the€co„executorsÐ :Š Ðresigned€prematurely€under€pressure€from€the€probate€court,€they€filed€a€final€request€forÐ &v Ðcompensation€for€their€work€on€behalf€of€the€estate.€€The€family€opposed€the€request€and€insisted€thatÐ b Ðthe€trial€court€should€require€the€co„executors€to€disgorge€the€interim€executorððs€fees€they€hadÐ þN Ðalready€received.€€The€probate€court€declined€to€award€the€co„executors€additional€fees€but€alsoÐ ê: Ðdeclined€to€require€them€to€disgorge€their€interim€fees.€€In€addition,€the€court€directed€one€of€the€co„Ð Ö& Ðexecutors€to€refund€$70,625€of€the€legal€retainer€he€had€collected€from€the€deceased€businessÐ Â Ðexecutiveððs€corporation.Ð ®þ ÐÌà  àI€agree€with€the€majorityððs€conclusion€that€the€co„executors€are€not€entitled€to€a€fee€computedÐ †Ö Ðin€accordance€with€the€fee€provisions€in€the€decedentððs€will.€€I€also€agree€with€the€majorityððsÐ r  Ðdecisions€that€the€co„executors€are€entitled€to€a€reasonable€fee€for€the€work€they€actually€performedÐ ^!®  Ðas€co„executors€and€that€this€fee€should€be€based€on€the€number€of€hours€worked€and€a€reasonableÐ J"š! Ðhourly€rate€for€the€services.€€However,€I€cannot€agree€with€the€majorityððs€conclusion€that€the€probateÐ 6#†" Ðcourt€somehow€has€jurisdiction€to€adjudicate€what€is€essentially€a€shareholdersðð€derivative€claimÐ "$r# Ðregarding€the€legal€fees€paid€to€one€of€the€co„executors€by€the€decedentððs€corporation.€€Any€disputeÐ %^ $ Ðregarding€these€fees€should€be€litigated€in€another€forum.Ð ú%J!% ÐÌà@¬¬)ìàò òI.ó óˆÐ Ò'"#' ÐÌà  àDuring€his€lifetime,€Murrey€Louis€Wakefield€was€the€president€and€sole€owner€of€FeldkircherÐ ª)ú$) ÐWire€Fabricating€Company€(ð ðFeldkircher€Wireðð).€€He€was€78€years€old€when€he€died€in€anÐ –*æ%* Ðautomobile€collision€in€December€1994.€€Four€adult€children€survived€Mr.€Wakefield.׃ ×Ý ƒ#ÃÝòòÚ  Ú1Ú  ÚóóÝ  Ý×  ×€€Mr.Ð ‚+Ò&+ ÐWakefieldððs€estate,€valued€at€approximately€$10.6€million,€consisted€of€Feldkircher€Wire,€the€realÐ n,¾',ý Ðproperty€where€the€companyððs€three€manufacturing€plants€were€located,€equipment€leased€to€theÐ ° Ðcompany,€residences€in€Davidson€and€Williamson€Counties,€unimproved€commercial€property,€andÐ œì Ðthree€farms€with€acreage€totaling€650€acres.Ð ˆØ ÐÌà  àMr.€Wakefield€operated€Feldkircher€Wire€by€himself€without€a€board€of€directors.€€He€wasÐ `° Ða€hands„on€manager€who€personally€oversaw€all€aspects€of€his€company.€€Mr.€Wakefield€employedÐ L œ Ðtwo€of€his€children€in€his€business€but€did€not€place€them€in€executive€management€positions.€€ForÐ 8 ˆ Ðmany€years,€he€maintained€professional€relationships€with€a€lawyer€and€an€accountant€who€assistedÐ $ t Ðhim€both€with€his€business€and€with€personal€matters.€€Ronald€H.€Pursell,€a€Nashville€lawyer,€wasÐ  ` Ðon€a€$3,000€per€month€retainer€from€Feldkircher€Wire,€and€Robert€Whisenant,€a€NashvilleÐ ü L  Ðaccountant,€provided€accounting€services,€as€needed,€for€Feldkircher€Wire€and€Mr.€Wakefield.Ð è 8  ÐÌà  àMr.€Wakefield€began€working€on€an€estate€plan€with€both€Messrs.€Pursell€and€Whisenant€inÐ À  Ðthe€1980s.€€He€desired€to€ensure€the€continuation€of€Feldkircher€Wire,€but€he€was€concerned€that€hisÐ ¬ü  Ðchildren€lacked€the€ability€or€experience€that€would€be€necessary€to€keep€the€company€operating.€Ð ˜è  ÐHe€also€desired€to€prevent€his€children€from€dissipating€the€assets€he€had€worked€so€hard€toÐ „Ô  Ðaccumulate€and€to€avoid,€or€at€least€minimize,€publically€airing€his€personal€finances.€€At€the€timeÐ pÀ Ðof€his€death,€Mr.€Wakefield€was€considering€forming€an€Employee€Stock€Ownership€Plan€(ð ðESOPðð)Ð \¬ Ðthat€would€enable€Feldkircher€Wireððs€employees׃×Ý ƒ#ÃÝòòÚ  Ú2Ú  ÚóóÝ  Ý×  ×€to€purchase€the€company.Ð H˜ ÐÌà  àAfter€extensive€discussions€with€Messrs.€Pursell€and€Whisenant,€Mr.€Wakefield€executed€aÐ  p Ðwill€in€October€1993.€€The€will€named€Messrs.€Pursell€and€Whisenant€and€Judith€Wakefield€Sandlin,Ð  \ Ðone€of€Mr.€Wakefieldððs€daughters,€as€co„executors.€€It€also€created€the€M.€L.€Wakefield€Family€TrustÐ øH Ðand€named€Messrs.€Pursell€and€Whisenant€and€Ms.€Sandlin€as€the€co„trustees.€€Other€than€severalÐ ä4 Ðspecific€bequests€directly€to€family€members,€the€will€directed€that€the€bulk€of€Mr.€WakefieldððsÐ Ð  Ðproperty,€including€Feldkircher€Wire,€be€placed€in€the€M.€L.€Wakefield€Family€Trust.€€Mr.Ð ¼  ÐWakefieldððs€beneficiaries€were€entitled€to€the€earnings€from€the€trust,€and,€at€the€end€of€eleven€years,Ð ¨ø Ðthe€trust€was€to€terminate€and€the€corpus€was€to€be€distributed€to€the€beneficiaries.€€The€will€alsoÐ ”ä Ðdirected€that€Messrs.€Pursell€and€Whisenant€and€Ms.€Sandlin€would€become€the€board€of€directorsÐ €Ð Ðof€Feldkircher€Wire€following€Mr.€Wakefieldððs€death€with€power€to€sell€the€company€if€they€deemedÐ l¼ Ða€sale€to€be€ð ðfinancially€advisable.ðð€€Ð X ¨ ÐÌà  àAfter€Mr.€Wakefieldððs€death,€his€will€was€filed€for€probate,€and€Messrs.€Pursell€andÐ 0"€  ÐWhisenant€and€Ms.€Sandlin€took€on€their€responsibilities€as€co„executors,€co„trustees,€and€co„Ð #l! Ðdirectors€of€Feldkircher€Wire.€€They€filed€an€interim€accounting€for€the€period€ending€on€NovemberÐ $X" Ð30,€1995,€which€was€approved€by€the€probate€court€without€objection€in€March€1996.€€However,Ð ô$D # Ðshortly€after€Messrs.€Pursell€and€Whisenant€requested€the€courtððs€permission€to€sell€several€tracts€ofÐ à%0!$ Ðreal€property,€Ms.€Sandlin€joined€her€brothers€and€sisters€in€belatedly€questioning€the€interimÐ Ì&"% Ðaccounting€and€the€proposed€sale€of€real€property.€€Despite€this€emerging€disagreement,€the€adultÐ ¸'#& Ðbeneficiaries€did€not€object€to€the€co„executorsðð€request€for€interim€executorððs€fees.€€In€October€1996,Ð ¤(ô#' Ðthe€probate€court€entered€an€order,€signed€by€counsel€for€all€parties€including€the€adult€beneficiaries,Ð )à$( Ðawarding€the€co„executors€an€interim€fee€of€$150,000€to€be€evenly€divided€among€them.Ð |*Ì%) Їà  àSigns€of€the€discord€between€the€non„family€co„executors€and€the€adult€beneficiaries€surfacedÐ ° Ðagain€in€March€1997€when€the€adult€beneficiaries€opposed€the€co„executorsðð€second€interim€feeÐ œì Ðrequest.€€During€the€next€two€months,€the€adult€beneficiaries€requested€the€probate€courtððsÐ ˆØ Ðpermission€to€hire€two€business€advisors€to€assist€the€estate€in€devising€a€long„term€plan€for€theÐ tÄ Ðdisposition€of€Feldkircher€Wire.€€They€also€requested€the€court€to€determine€whether€challenging€theÐ `° Ðco„executorsðð€second€interim€fee€request€violated€the€ð ðin€terroremðð€provision€in€Mr.€WakefieldððsÐ L œ Ðwill.€€After€Messrs.€Pursell€and€Whisenant€requested€the€probate€courtððs€preliminary€approval€of€theÐ 8 ˆ ÐESOP€for€Feldkircher€Wire€in€June€1997,€the€adult€beneficiaries€opposed€the€ESOP€and€insisted€thatÐ $ t Ðthey€desired€to€retain€ownership€and€continue€to€operate€Feldkircher€Wire€themselves.Ð  ` ÐÌà  àDuring€a€status€conference€in€late€June€1997,€the€adult€beneficiaries€complained€that€theÐ è 8  Ðadministration€of€their€fatherððs€estate€had€been€ð ðmarked€by€antagonism€and€tensionðð€between€themÐ Ô$  Ðand€Messrs.€Pursell€and€Whisenant.€€The€probate€court€suggested€that€Messrs.€Pursell€and€WhisenantÐ À  Ðshould€voluntarily€resign€as€co„executors€and€pointedly€implied€that€they€would€be€removed€if€theyÐ ¬ü  Ðdid€not€resign.׃×Ý ƒ#ÃÝòòÚ  Ú3Ú  ÚóóÝ  Ý×  ×€€Not€surprisingly,€Messrs.€Pursell€and€Whisenant€immediately€resigned€as€co„Ð ˜è  Ðexecutors€of€Mr.€Wakefieldððs€estate,€co„trustees€of€the€M.€L.€Wakefield€Family€Trust,€and€co„Ð „Ô  Ðdirectors€of€Feldkircher€Wire.€€On€July€3,€1997,€the€probate€court€entered€an€agreed€order€recitingÐ pÀ Ðthat€Messrs.€Pursell€and€Whisenant€had€tendered€their€resignations€and€that€ð ð[a]ll€parties€in€interestÐ \¬ Ðhave€agreed€to€.€.€.€release,€indemnify€and€.€.€.€to€hold€harmless€R.€H.€Pursell€and€Robert€V.Ð H˜ ÐWhisenant€from€any€and€all€duties,€responsibilities,€liabilities€and/or€obligations€of€either€of€themÐ 4„ Ðarising€out€of€or€in€connection€with€their€duties€and€obligations€in€each€capacity.ðð€€The€court€alsoÐ  p Ðappointed€First€American€National€Bank€to€replace€Messrs.€Pursell€and€Whisenant€as€co„executorsÐ  \ Ðand€set€a€hearing€on€their€pending€motion€for€payment€of€executorððs€fees.Ð øH ÐÌà  àOn€August€1,€1997,€Messrs.€Pursell€and€Whisenant€filed€their€final€accounting€and€their€finalÐ Ð  Ðrequest€for€executorððs€fees.€€In€addition€to€the€$50,000€in€interim€fees€each€of€them€had€received€inÐ ¼  ÐOctober€1996,€Mr.€Pursell€requested€$85,166,€and€Mr.€Whisenant€requested€$91,934.€€The€adultÐ ¨ø Ðbeneficiaries€took€exception€to€the€final€accounting€and€also€requested€the€probate€court€to€determineÐ ”ä Ðð ðwhether€the€totality€of€the€fees€charged€by€the€former€co„executors€were€necessary€and€reasonable.ðð€Ð €Ð ÐFollowing€nine€days€of€hearings€between€November€1997€and€March€1998,€the€probate€court€ruledÐ l¼ Ðfrom€the€bench€that€Messrs.€Pursell€and€Whisenant€were€not€entitled€to€additional€co„executorððs€feesÐ X ¨ Ðand€that€they€would€not€be€required€to€disgorge€the€interim€fees€they€had€already€received.€€The€courtÐ D!” Ðalso€required€Mr.€Pursell€to€return€$70,625€of€the€retainer€fees€his€firm€had€received€from€FeldkircherÐ 0"€  ÐWire€during€the€thirty€months€following€Mr.€Wakefieldððs€death.€€Both€Messrs.€Pursell€andÐ #l! ÐWhisenant€and€the€adult€beneficiaries€take€issue€with€these€decisions.Ð $X" ÐÌà@……)ìàò òII.ó óˆÐ à%0!$ Ðà@d d ìàòòò òThe€Calculation€of€the€Executorððs€Feesó óóóˆÐ Ì&"% ÐÌà  àThroughout€these€proceedings,€Messrs.€Pursell€and€Whisenant€have€doggedly€insisted€thatÐ ¤(ô#' Ðthey€are€entitled€to€be€compensated€for€their€services€as€co„executors€based€on€the€compensationÐ )à$( Ðprovision€contained€in€Article€I€of€Mr.€Wakefieldððs€will.€€With€matching€intensity,€the€adultÐ |*Ì%) Ðbeneficiaries€have€advanced€a€host€of€arguments€against€the€enforceability€of€the€provision.€€AmongÐ ° Ðother€things,€the€adult€beneficiaries€insist€that€Mr.€Wakefield€was€induced€to€include€this€provisionÐ œì Ðin€his€will€by€the€overreaching€of€Messrs.€Pursell€and€Whisenant€and€that€the€provision€isÐ ˆØ Ðunenforceable€because€Messrs.€Pursell€and€Whisenant€did€not€arrange€for€Mr.€Wakefield€to€obtainÐ tÄ Ðindependent€legal€advice€with€regard€to€executorððs€fees.Ð `° ÐÌà  àMr.€Wakefield€desired€to€include€a€provision€in€his€will€that€would€reduce€the€potential€forÐ 8 ˆ Ðdisagreement€regarding€the€compensation€of€the€co„executors€and€co„trustees.€€After€rejecting€severalÐ $ t Ðproposed€fee€provisions,€Mr.€Wakefield€eventually€settled€on€the€following€provision€directingÐ  ` ÐÌà8  àà8` Ð Ð àthat€my€Co„Executors€and€Co„Trustees€herein€shall€be€paid€fees€equalÐ è 8  Ðto€those€fees€customarily€charged€by€NationsBank€in€Nashville,Ð Ô$  ÐTennessee,€or€its€successors€for€estate€and€trust€administrativeÐ À  Ðservices.Ьü ` x` x ÐÌThe€record€shows€that€Mr.€Wakefield€decided€to€use€this€fee€arrangement€only€after€Messrs.€PursellÐ „Ô  Ðand€Whisenant€had€explained€it€to€him€and€after€Mr.€Whisenant€had€made€some€calculations€toÐ pÀ Ðestimate€how€much€the€executorððs€fees€might€be€under€this€proposal.Ð \¬ ÐÌà  àBased€on€my€reading€of€the€record,€I€find€no€factual€basis€for€concluding€that€either€Mr.Ð 4„ ÐPursell€or€Mr.€Whisenant€ever€exerted€undue€influence€over€Mr.€Wakefield€with€regard€to€theÐ  p Ðsubstantive€provisions€in€his€will.€€Nor€do€I€find€any€colorable€indication€that€Mr.€WakefieldððsÐ  \ Ðmental€or€physical€capacity€were€impaired.€€In€fact,€precisely€the€opposite€is€the€case.€€By€virtuallyÐ øH Ðall€accounts,€Mr.€Wakefield€was€a€self„possessed,€driven€person€with€a€keen€business€intellect€andÐ ä4 Ðan€attention€to€detail.€€He€articulated€specific,€reasonable€goals€for€his€estate€planning€and€refinedÐ Ð  Ðthese€goals€over€numerous€conversations€with€Messrs.€Pursell€and€Whisenant.€€Accordingly,€I€findÐ ¼  Ðno€basis€for€undermining€the€willððs€fee€arrangement€simply€because€Mr.€Wakefield€did€not€receiveÐ ¨ø Ðindependent€legal€advice€regarding€the€method€for€compensating€his€two€non„family€co„executors.€Ð ”ä ÐImposing€such€a€requirement€will€inevitably€drive€up€the€cost€of€obtaining€a€will€and,€under€the€factsÐ €Ð Ðof€this€case,€would€have€been€entirely€unnecessary.Ð l¼ ÐÌà  àLike€the€majority,€I€have€determined€that€there€are€three€reasons€why€Messrs.€Pursell€andÐ D!” ÐWhisenant€are€not€entitled€to€have€their€executorððs€fees€calculated€in€accordance€with€Article€I€of€Mr.Ð 0"€  ÐWakefieldððs€will.€€First,€Messrs.€Pursell€and€Whisenant€were€not€entitled€to€a€fee€calculated€inÐ #l! Ðaccordance€with€the€NationsBank€fee€schedule€because€they€resigned€as€executors€before€the€estateÐ $X" Ðclosed.€€Second,€there€is€evidence€in€the€record€that€NationsBank€would€customarily€negotiate€toÐ ô$D # Ðreduce€its€fee€for€large€estates€such€as€Mr.€Wakefieldððs.€€Third,€the€record€contains€conflictingÐ à%0!$ Ðevidence€regarding€the€types€of€services€that€would€be€classified€as€ð ðextraordinary€servicesðð€underÐ Ì&"% Ðthe€NationsBank€schedule€for€which€additional€fees€would€be€charged.Ð ¸'#& ÐÌà  àI€find€nothing€improper€about€including€€a€provision€in€a€will€that€bases€an€executorððsÐ )à$( Ðcompensation€on€a€fee€schedule€used€by€a€financial€institution.€€However,€when€such€a€provision€isÐ |*Ì%) Ðused,€the€will€should€contain€other€provisions€(1)€that€address€the€computation€of€fees€for€executorsÐ h+¸&* Ðwho€resign€before€the€estate€is€closed,€(2)€that€define€the€nature€and€type€of€services€covered€by€theÐ T,¤'+ Ðfee,€and€(3)€that€provide€a€method€for€computing€the€fee€for€extraordinary€services€that€are€notÐ @-(, Ðnormally€part€of€the€administration€of€an€estate.€€The€provision€in€Article€I€of€Mr.€Wakefieldððs€willÐ ° Ðon€which€Messrs.€Pursell€and€Whisenant€rely€does€not€contain€any€of€these€provisions,€and,Ð œì Ðtherefore,€we€have€no€reliable€basis€for€determining€what€Mr.€Wakefieldððs€intentions€would€haveÐ ˆØ Ðbeen€in€these€circumstances.€€However,€in€light€of€the€picture€of€Mr.€Wakefield€painted€by€theÐ tÄ Ðtestimony€in€this€record,€I€venture€to€guess€that€he€would€never€have€agreed€to€full€pay€for€only€partÐ `° Ðof€the€work.Ð L œ ÐÌà  àExecutors€are€entitled€to€reasonable€compensation€for€their€services€unless€they€agree€toÐ $ t Ðundertake€the€task€without€compensation.€€òòIn€re€Estate€of€Wallaceóó,€829€S.W.2d€696,€700„01€(Tenn.Ð  ` ÐCt.€App.€1992).€€As€a€general€matter,€courts€should€give€full€effect€to€provisions€in€a€will€regardingÐ ü L  Ðexecutorððs€fees€unless€they€conclude€that€the€provision€does€not€reflect€the€testatorððs€intent.€Ð è 8  ÐHowever,€when€a€will€does€not€contain€a€fee€provision,€the€executor€is€entitled€to€a€reasonable€feeÐ Ô$  Ðas€determined€by€the€court.€€òòIn€re€Estate€of€Perlbergóó,€694€S.W.2d€304,€307€(Tenn.€Ct.€App.€1984).€Ð À  ÐA€will€containing€an€unenforceable€or€invalid€fee€provision€should€be€considered€to€be€a€will€thatÐ ¬ü  Ðdoes€not€contain€a€fee€provision.Ð ˜è  ÐÌà  àThe€probate€court€had€the€power€to€award€Messrs.€Pursell€and€Whisenant€a€reasonable€feeÐ pÀ Ðbecause€the€fee€provision€in€Article€I€of€Mr.€Wakefieldððs€will€was€unenforceable.€€The€courtÐ \¬ Ðexercised€its€discretion€by€determining€that€the€$50,000€interim€fee€Messrs.€Pursell€and€WhisenantÐ H˜ Ðreceived€in€October€1996€fully€compensated€them€for€their€services€to€the€estate€over€a€thirty€monthÐ 4„ Ðperiod€of€time.€€I€cannot€not€square€the€probate€courtððs€conclusion€with€the€unrebutted€evidenceÐ  p Ðregarding€the€amount€of€time€Messrs.€Pursell€and€Whisenant€worked€on€the€estate€and€the€reasonableÐ  \ Ðhourly€rate€they€charged€for€their€services.€€Accordingly,€I€concur€with€the€majorityððs€conclusion€that,Ð øH Ðin€addition€to€the€interim€fees€already€collected,€Mr.€Pursell€is€entitled€to€$9,487.50׃×Ý ƒ#ÃÝòòÚ  Ú4Ú  ÚóóÝ  Ý×  ×€in€additionalÐ ä4 Ðfees,€and€Mr.€Whisenant€is€entitled€to€$12,037.50׃T×Ý ƒ#ÃÝòòÚ  Ú5Ú  ÚóóÝ  Ý×  ×€in€additional€fees.Ð Ð  ÐÌà@^^(ìàò òIII.ó óˆÐ ¨ø Ðà@g g ìàòòò òThe€Disgorgement€of€Feldkircher€Wireððs€Retaineró óóóˆÐ ”ä ÐÌà  àThe€probate€court€also€ordered€Mr.€Pursell€to€repay€$70,625€of€the€retainer€he€had€collectedÐ l¼ Ðfrom€Feldkircher€Wire€during€the€thirty€months€following€Mr.€Wakefieldððs€death.€€The€decisionÐ X ¨ Ðappears€to€be€based€on€two€conclusions.€€First,€the€probate€court€observed€that€continuing€the€long„Ð D!” Ðstanding€retainer€agreement€with€Feldkircher€Wire€after€Mr.€Wakefieldððs€death€was€somehowÐ 0"€  Ðimproper€because€Mr.€Pursell€joined€the€board€of€directors€of€Feldkircher€Wire.€€Second,€the€probateÐ #l! Ðcourt€noted€that€Mr.€Pursellððs€time€records€for€the€period€indicated€that€he€personally€spent€154.6Ð $X" Ðbillable€hours€providing€legal€services€to€the€company€and€that€the€bill€for€these€hours,€at€Mr.Ð ô$D # Ðâ âPursellððs€normal€hourly€rate,€would€have€been€$19,375.׃à×Ý ƒ#ÃÝòòÚ  Ú6Ú  ÚóóÝ  Ý×  ×€€Accordingly,€the€probate€court€required€Mr.Ð à%0!$ ÐPursell€to€disgorge€the€difference€between€the€retainer€and€the€normal€charge€for€the€hours€that€heÐ ° Ðactually€spent€working€on€Feldkircher€Wireððs€business.Ð œì Ðâ âà  àÌà  àA€probate€proceeding€provides€a€vehicle€for€the€prompt€and€economic€administration€of€aÐ tÄ Ðdecedentððs€estate.€€Its€purposes€are€(1)€to€determine€the€ð ðcharacter€and€validityðð€of€the€will,׃×Ý ƒ#ÃÝòòÚ  Ú7Ú  ÚóóÝ  Ý×  ×€(2)€toÐ `° Ðidentify€and€marshal€the€decedentððs€assets€and€property,׃Ü×Ý ƒ#ÃÝòòÚ  Ú8Ú  ÚóóÝ  Ý×  ×€(3)€to€pay€the€decedentððs€debts,׃,×Ý ƒ#ÃÝòòÚ  Ú9Ú  ÚóóÝ  Ý×  ×€and€(4)€toÐ L œ Ðdistribute€the€balance€of€the€decedentððs€estate€in€accordance€with€his€or€her€will.׃!¸×Ý ƒ#ÃÝòòÚ  Ú10Ú  ÚóóÝ  Ý×  ×€€The€proceedingÐ 8 ˆ Ðhas€an€ecclesiastical€rather€than€common„law€origin€and€is€essentially€statutory€in€nature.€€òòPetty€v.Ð $ t ÐCallóó,€599€S.W.2d€791,€793€(Tenn.€1980);€òòBuchanan€v.€Matlockóó,€27€Tenn.€(8€Hum.)€389,€391„96Ð  ` Ð(1847).€€Because€probate€proceedings€are€statutory€in€nature,€courts€exercising€probate€jurisdictionÐ ü L  Ðhave€only€the€subject€matter€jurisdiction€and€power€conferred€on€them€by€constitution€or€by€statute,Ð è 8  Ðor€necessarily€incidental€to€the€exercise€of€the€jurisdiction€and€powers€specifically€granted.€€òòMeighanÐ Ô$  Ðv.€U.€S.€Sprint€Communications€Co.óó,€924€S.W.2d€632,€639€(Tenn.€1996);€òòDishmon€v.€Shelby€StateÐ À  ÐCmty.€Collegeóó,€15€S.W.3d€477,€480€(Tenn.€Ct.€App.€1999).Ð ¬ü  ÐÌà  àThe€probate€court€and€the€majority€have€concluded€that€the€adult€beneficiaries€of€Mr.Ð „Ô  ÐWakefieldððs€estate€can€use€the€probate€proceeding€to€adjudicate€a€claim€essentially€belonging€toÐ pÀ ÐFeldkircher€Wire.€€This€decision€is€predicated€on€their€conclusion€that€this€claim€was€essentiallyÐ \¬ Ðbrought€on€behalf€of€the€beneficiaries€because€all€the€capital€stock€in€Feldkircher€Wire€is€an€assetÐ H˜ Ðof€the€estate.€€This€reasoning€overlooks€the€fact€that€Feldkircher€Wire€is€a€free„standing€legal€entityÐ 4„ Ðthat€is€separate€from€the€estate.Ð  p ÐÌà  àThere€is€no€question€that€the€stock€in€Feldkircher€Wire€owned€by€Mr.€Wakefield€when€heÐ øH Ðdied€became€an€asset€of€his€estate.€€2€Jack€W.€Robinson€&€Jeff€Mobley,€òòPritchard€on€the€Law€ofÐ ä4 ÐWills€and€Administration€of€Estates€óóðð€627€(5th€ed.€1994).€€Thus,€following€Mr.€Wakefieldððs€death,Ð Ð  Ðhis€estate€succeeded€to€his€ownership€of€the€stock€and€became€a€stockholder€of€the€corporation.€Ð ¼  ÐòòWestern€Sur.€Co.€v.€Wilsonóó,€484€S.W.2d€45,€48€(Tenn.€Ct.€App.€1972)€(holding€that€the€decedentððsÐ ¨ø Ðpersonal€representative€succeeds€to€his€or€her€personal€property);€òòFirst€Natððl€Bank€v.€Howardóó,€42Ð ”ä ÐTenn.€App.€347,€351,€302€S.W.2d€516,€518€(1957)€(same).€€However,€the€estateððs€power€is€only€thatÐ €Ð Ðof€a€shareholder.€€òòIn€re€Winderððs€Estateóó,€221€P.2d€193,€194€(Cal.€Dist.€Ct.€App.€1950).€€It€did€notÐ l¼ Ðbecome€the€corporation€following€Mr.€Wakefieldððs€death.Ð X ¨ ÐÌà  àThe€claim€involving€the€legal€retainer€fees€Mr.€Pursell€collected€from€Feldkircher€WireÐ 0"€  Ðduring€the€thirty€months€following€Mr.€Wakefieldððs€death€is,€if€anything,€a€claim€belonging€to€theÐ #l! Ðcorporation.€€As€the€shareholder€of€Feldkircher€Wire,€Mr.€Wakefieldððs€estate€could€file€aÐ ° Ðshareholderððs€derivative€action׃"×Ý ƒ#ÃÝòòÚ  Ú11Ú  ÚóóÝ  Ý×  ×€against€Mr.€Pursell€to€recover€these€fees.€€Such€a€claim,€however,Ð œì Ðmust€be€pursued€in€a€proceeding€other€than€the€proceeding€to€set€up€and€probate€the€decedentððs€will.€Ð ˆØ ÐòòSee,€e.g.,€Christiansen€v.€Rolich€Corp.óó,€909€S.W.2d€823,€825€(Tenn.€Ct.€App.€1995)€(holding€thatÐ tÄ Ða€decedentððs€personal€representative€could€bring€a€derivative€action€on€behalf€of€a€corporationÐ `° Ðbecause€a€portion€of€the€corporationððs€stock€was€in€the€estate).Ð L œ ÐÌà  àIn€light€of€these€authorities,€I€would€hold€that€a€court€exercising€probate€jurisdiction€does€notÐ $ t Ðhave€the€subject€matter€jurisdiction€to€adjudicate€a€shareholderððs€derivative€claim€simply€becauseÐ  ` Ðsome€or€all€of€the€corporationððs€stock€is€in€the€hands€of€an€estate€within€the€probate€courtððsÐ ü L  Ðjurisdiction.׃#Ü×Ý ƒ#ÃÝòòÚ  Ú12Ú  ÚóóÝ  Ý×  ×€€Accordingly,€I€would€hold€that€the€probate€court€exceeded€its€jurisdiction€when€itÐ è 8  Ðordered€Mr.€Pursell€to€disgorge€a€portion€of€the€retainer€fee€he€had€received€from€Feldkircher€WireÐ Ô$  Ðfollowing€Mr.€Wakefieldððs€death.€€If€this€claim€is€to€be€pursued,€it€should€be€pursued€in€anotherÐ À  Ðforum€either€by€Feldkircher€Wire€or€by€Mr.€Wakefieldððs€estate€for€the€benefit€of€Feldkircher€Wire.Ð ¬ü  Ðà  àà ` àÌÌà  àÌà0  àà ` àà0¸ (#(#àà0¸ (#¸ (#àà0h(#(#àà0Àh(#h(#àà0À(#À(#àà0p(#(#àà  à_____________________________€Ð\¬p(#p(# Ðà  àà ` àà ¸ àà  àà h àà À àà  àWILLIAM€C.€KOCH,€JR.,€JUDGE