Hollister Estate Lawyer, Oklahoma

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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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Fred T. Fox

Elder Law, Estate Planning, Tax, Guardianships & Conservatorships

Status: In Good Standing

CONTACT

17 Nw Lakewood Dr, Lawton, OK 73505

Don Laurence Smith

Estate Planning, Child Support, Lending, Bankruptcy

Status: In Good Standing

CONTACT

7701 Wyatt Lake Dr, Lawton, OK 73505

O. Christopher Meyers

Litigation, Trusts, Elder Law, Business

Status: In Good Standing

CONTACT

15 N.W. 44Th Street, Lawton, OK 73505

Sylvia M. Burgess

Trusts, Estate Planning, Employee Rights, Corporate

Status: In Good Standing

CONTACT

21 N.W. 44Th Street, Lawton, OK 73505

Orin Chris Meyers

Motor Vehicle, Estate, Criminal, Car Accident

Status: In Good Standing

CONTACT

15 NW 44th St, Lawton, OK 73505

Jay C. Meyers

Estate, Real Estate, Copyright, Business

Status: In Good Standing

CONTACT

15 N.W. 44Th Street, Lawton, OK 73505

Kelli Rae Woodson

Trusts, Family Law, Insurance, Corporate

Status: In Good Standing

CONTACT

106 West Broadway, Altus, OK 73521

Rebecca Nicole Beason

Divorce & Family Law, Criminal, Estate, Business

Status: In Good Standing

CONTACT

108 West Broadway, Altus, OK 73521

Sommer Kendall Robbins

Insurance, Adoption, Immigration, Estate Planning

Status: In Good Standing

CONTACT

101 N Main St, Altus, OK 73522

Michael Todd Beason

Juvenile Law, Administrative Law, Family Law, Wills

Status: In Good Standing Licensed: 2 Years

CONTACT

123 W Commerce Street, Altus, OK 73522

800-923-0641

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LEGAL TERMS

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

PER CAPITA

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving 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 capita, Julie and the two grandchildren will each take a third. If, on the other hand, 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).

AB TRUST

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of... (more...)

A trust that allows couples to reduce or avoid estate taxes. Each spouse puts his or her property in an AB trust. When the first spouse dies, his or her half of the property goes to the beneficiaries named in the trust -- commonly, the grown children of the couple -- with the crucial condition that the surviving spouse has the right to use the property for life and is entitled to any income it generates. The surviving spouse may even be allowed to spend principal in certain circumstances. When the surviving spouse dies, the property passes to the trust beneficiaries. It is not considered part of the second spouse's estate for estate tax purposes. Using this kind of trust keeps the second spouse's taxable estate half the size it would be if the property were left directly to the spouse. This type of trust is also known as a bypass or credit shelter trust.

BENEFICIARY

A person or organization legally entitled to receive benefits through a legal device, such as a will, trust or life insurance policy.

PROPERTY CONTROL TRUST

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who ha... (more...)

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.

REAL ESTATE AGENT

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must hav... (more...)

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must have a state license and be supervised by a real estate broker. Most agents are completely dependent upon commissions from sellers for their income, so it pays to find out which side the agent represents (buyer, seller or both) before you place too much trust in the agent's opinion.

INTER VIVOS TRUST

The Latin name, favored by some lawyers, for a living trust. 'Inter vivos' is Latin for 'between the living.'

Hollister Estate Lawyer, Oklahoma

Sponsored Law Firm

Pritchett Law Group

SPONSORED LAWYERS

Fred T. Fox

Don Laurence Smith

O. Christopher Meyers

Sylvia M. Burgess

Orin Chris Meyers

Jay C. Meyers

Kelli Rae Woodson

Rebecca Nicole Beason

Sommer Kendall Robbins

Michael Todd Beason

TIPS

LEGAL TERMS

GROSS ESTATE

GRANTOR

PER CAPITA

AB TRUST

BENEFICIARY

PROPERTY CONTROL TRUST

REAL ESTATE AGENT

INTER VIVOS TRUST

HEIR AT LAW

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