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Monty Pritchett
About | Practice Areas
Pritchett Law Group
126 West Needles Avenue Bixby, OK 74008» view map
Estate Law
A Focus On Results

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918-509-3891
1. Monty Pritchett Bixby, OK
  Attorney at Law, OK
  University of Oklahoma College of Law, J.D.
2. AboutPritchett Law Group
  A Focus On Results
3. Practice AreasExpertise
  Estate Law
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2. Email
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Includes: Gift Taxation

M. Blake Yaffe

Estate Planning, Family Law, Litigation, Medical Malpractice

Status: In Good Standing

FREE CONSULTATION

CONTACT

12231 South May Avenue, Oklahoma City, OK 73170

Dawn Desirae Hallman

Trusts, Estate Planning, Wills & Probate, Business

Status: In Good Standing

CONTACT

2230 Mckown Drive, Norman, OK 73072

Scott Thomas Banks

Federal Appellate Practice, Gift Taxation, Employment Discrimination, Adoption

Status: In Good Standing

CONTACT

217 E. Main Street, Norman, OK 73069

Betty Lynne Driver

Public Finance, Gift Taxation, Banking & Finance, Administrative Law

Status: In Good Standing Licensed: 28 Years

CONTACT

Norman, OK 73070

William Robert Dill

Landlord-Tenant, Gift Taxation, Elder Law, Contract

Status: In Good Standing

CONTACT

401 W Main St, Norman, OK 73069

William Calvin Henley

Tax, Gift Taxation, Estate Planning, Corporate

Status: In Good Standing

CONTACT

3280 Marshall Ave, Norman, OK 73072

Nina Jung Wadley

Gift Taxation, Trusts, Tax

Status: In Good Standing

CONTACT

100 48Th Avenue, Nw, Norman, OK 73072

Kimmy Don Ashley

Gift Taxation, Family Law, Estate Planning, Tax

Status: In Good Standing

CONTACT

10051 Flat Armadillo Rd, Lexington, OK 73051

Cathleen Ann Jones

Gift Taxation, Trusts, Tax, Estate Planning

Status: In Good Standing

CONTACT

1125 N. Porter, Norman, OK 73071

Kelli Allison Condict Jackson

Immigration, Gift Taxation, Child Custody, Elder Law

Status: In Good Standing

CONTACT

5017 Kathy Lynn Dr, Norman, OK 73072

800-923-0641

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LEGAL TERMS

FAILURE OF ISSUE

A situation in which a person dies without children who could have inherited her property.

STATUTORY SHARE

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

DISCHARGE (OF PROBATE ADMINISTRATOR)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties hav... (more...)

A court order releasing the administrator or executor from any further duties connected with the probate of an estate. This typically occurs when the duties have been completed but may happen sooner if the executor or administrator wishes to withdraw or is dismissed.

ACCUMULATION TRUST

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nic... (more...)

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to o... (more...)

A federal law passed to protect pension rights. ERISA: sets minimum standards for pension plans, guaranteeing that pension rights cannot be unfairly denied to or taken from a worker provides some protection for workers in the event certain types of pension plans cannot pay the benefits to which workers are entitled, and requires that employers provide full and clear information about employees' pension rights, including the way pension benefits accumulate, how the company invests pension funds, and when and how pension benefits can be collected.

PER STIRPES

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. F... (more...)

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. For example, Fred leaves his house jointly to his son Alan and his daughter Julie. But Alan dies before Fred, leaving two young children. If Fred's will states that heirs of a deceased beneficiary are to receive the property 'per stirpes,' Julie will receive one-half of the property, and Alan's two children will share his half in equal shares (through Alan by right of representation). If, on the other hand, Fred's will states that the property is to be divided per capita, Julie and the two grandchildren will each take a third.

TRUST CORPUS

Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, t... (more...)

Latin for 'the body' of the trust. This term refers to all the property transferred to a trust. For example, if a trust is established (funded) with $250,000, that money is the corpus. Sometimes the trust corpus is known as the 'res,' a Latin word meaning 'thing.'

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

FAMILY POT TRUST

See pot trust.

SAMPLE LEGAL CASES

In re Marriage of Murphy

... Id. Joint revocable trusts are an alternative estate planning technique which have become popular in common-law property states because they avoid probate and the need to sever jointly owned assets into separate trusts for each spouse. Id. at 346-347. ...

Edwards v. Urice

... 22 The evidence in the record establishes the following facts. Urice was not related to Bowers by blood and was not a natural object of her bounty. Prior to 1997, Bowers had never mentioned Urice in her estate planning or wanted him to be involved in her financial affairs. ...

Friedman v. Craig

... The motion included affidavits to support Appellant's defense against a fraudulent conveyance, ie, the transfer of the joint tenancy interest in Appellant's home to Craig in 2001 was an estate planning device necessitated by her heart surgery and a concurrently-executed second ...

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Cleveland County, OK Estate Planning Lawyers

Sponsored Law Firm

Pritchett Law Group

SPONSORED LAWYERS

M. Blake Yaffe

Dawn Desirae Hallman

Scott Thomas Banks

Betty Lynne Driver

William Robert Dill

William Calvin Henley

Nina Jung Wadley

Kimmy Don Ashley

Cathleen Ann Jones

Kelli Allison Condict Jackson

TIPS

LEGAL TERMS

FAILURE OF ISSUE

STATUTORY SHARE

DISCHARGE (OF PROBATE ADMINISTRATOR)

ACCUMULATION TRUST

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

PER STIRPES

TRUST CORPUS

GENERATION-SKIPPING TRANSFER TAX

FAMILY POT TRUST

SAMPLE LEGAL CASES

In re Marriage of Murphy

Edwards v. Urice

Friedman v. Craig

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