Lawrence Creek 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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Mary Gannaway

Family Law, Estate Planning

Status: In Good Standing

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Bristow, OK 74010

Jon M Carter

DUI-DWI, Felony, Misdemeanor, Wills & Probate, Criminal

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602 North Broadway, Cleveland, OK 74020

John Emery Forsyth

Dispute Resolution, Oil & Gas, Estate Planning, Corporate

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Cushing, OK 74023

Bob Don Buchanan

Elder Law, Gift Taxation, Estate Planning, Tax

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350651 E 5100 Rd, Pawnee, OK 74058

John Mark Young

Traffic, Real Estate, Social Security, Trusts, Workers' Compensation

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2 N Main St, Sapulpa, OK 74066

Mallie Marlene Lawrence

Employee Rights, Gift Taxation

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4211 Colonial Drive, Sapulpa, OK 74066

Jeffrey Michael Bonds

Business, Estate Planning, Real Estate, Guardianships & Conservatorships

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203 E. Hobson, Sapulpa, OK 74066

Gene Thompson

Estate Planning, Estate, Family Law, Divorce & Family Law

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301 East Dewey Avenue, Sapulpa, OK 74066

Brian Lee Mitchell

Accident & Injury, Business, Lawsuit & Dispute, Estate, Real Estate

Status: In Good Standing

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203 E. Hobson, Sapulpa, OK 74066

Steven Douglas Swant

Bankruptcy, Federal Appellate Practice, Bankruptcy & Debt, Trusts

Status: In Good Standing

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201 W Rogers Blvd, Skiatook, OK 74070

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LEGAL TERMS

FAMILY POT TRUST

See pot trust.

QDOT TRUST

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spo... (more...)

A trust used to postpone estate tax when more than the amount of the personal federal estate tax exemption is left to a non-U.S. citizen spouse by the other spouse. QDOT stands for qualified domestic trust.

MARITAL LIFE ESTATE TRUST

See AB trust.

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

EXEMPTION TRUST

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth m... (more...)

A bypass trust funded with an amount no larger than the personal federal estate tax exemption in the year of death. If the trust grantor leaves property worth more than that amount, it usually goes to the surviving spouse. The trust property passes free from estate tax because of the personal exemption, and the rest is shielded from tax under the surviving spouse's marital deduction.

PROVING A WILL

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily sat... (more...)

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily satisfies by showing that the will was signed and dated by the deceased person in front of two or more witnesses. When the will is holographic -- that is, completely handwritten by the deceased and not witnessed, it is still valid in many states if the executor can produce relatives and friends to testify that the handwriting is that of the deceased.

NONPROBATE

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surv... (more...)

The distribution of a deceased person's property by any means other than probate. Many types of property pass free of probate, including property left to a surviving spouse and property left outside of a will through probate-avoidance methods such as pay-on-death designations, joint tenancy ownership, living trusts and life insurance. Property that avoids probate is sometimes described as the 'nonprobate estate.' Nonprobate distribution may also occur if the deceased person leaves an invalid will. In that case, property will pass according to the particular state's laws of intestate succession.

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.

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Lawrence Creek Estate Lawyer, Oklahoma

Sponsored Law Firm

Pritchett Law Group

SPONSORED LAWYERS

Mary Gannaway

Jon M Carter

John Emery Forsyth

Bob Don Buchanan

John Mark Young

Mallie Marlene Lawrence

Jeffrey Michael Bonds

Gene Thompson

Brian Lee Mitchell

Steven Douglas Swant

TIPS

LEGAL TERMS

FAMILY POT TRUST

QDOT TRUST

MARITAL LIFE ESTATE TRUST

SUCCESSOR TRUSTEE

SPENDTHRIFT TRUST

EXEMPTION TRUST

PROVING A WILL

NONPROBATE

AB TRUST

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