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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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Kelli Allison Condict Jackson

Immigration, Gift Taxation, Child Custody, Elder Law

Status: In Good Standing

CONTACT

5017 Kathy Lynn Dr, Norman, OK 73072

William Robert Dill

Landlord-Tenant, Gift Taxation, Elder Law, Contract

Status: In Good Standing

CONTACT

401 W Main St, Norman, OK 73069

Benjamin Paul Butler

Federal Appellate Practice, Trusts, Estate Planning, Family Law

Status: In Good Standing

CONTACT

207 W. Main Street, Norman, OK 73069

Wendy L. Hill

Estate, Estate Planning, Wills & Probate, Trusts

Status: In Good Standing

CONTACT

4712 Manor Hill Drive, Norman, OK 73072

John Curtis Mackey

Estate, Lawsuit & Dispute, Real Estate, Traffic

Status: In Good Standing

CONTACT

Norman, OK 73070

Whitney Ruth Beard Alvis

Gift Taxation, Tax, Corporate, Trusts

Status: In Good Standing

CONTACT

Norman, OK 73070

Cathleen Ann Jones

Gift Taxation, Trusts, Tax, Estate Planning

Status: In Good Standing

CONTACT

1125 N. Porter, Norman, OK 73071

Hal William Ezzell

Gift Taxation, Tax

Status: In Good Standing Licensed: 28 Years

CONTACT

712 Wall St, Norman, OK 73069

James Lawrence Bintz

Construction, Wills & Probate, Business, Environmental Law

Status: In Good Standing

CONTACT

400 S. Crawford, Norman, OK 73069

Patrick Raymond Carlson

Tax, Business, Wills & Probate, Property & Casualty

Status: In Good Standing

CONTACT

124 E. Main St., Norman, OK 73069

800-923-0641

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LEGAL TERMS

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.

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.

EXECUTOR

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's... (more...)

The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.

DISINHERIT

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit prope... (more...)

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit property -- a close family member, for example -- should not receive it. In most states, you cannot completely disinherit your spouse; a surviving spouse has the right to claim a portion (usually one-third to one-half) of the deceased spouse's estate. With a few exceptions, however, you can expressly disinherit children.

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.

INTESTATE SUCCESSION

The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest s... (more...)

The method by which property is distributed when a person dies without a valid will. Each state's law provides that the property be distributed to the closest surviving relatives. In most states, the surviving spouse, children, parents, siblings, nieces and nephews, and next of kin inherit, in that order.

DEATH TAXES

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who... (more...)

Taxes levied at death, based on the value of property left behind. Federal death taxes are called estate taxes. Some states levy inheritance taxes on people who inherit property.

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.

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.

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Purcell Estate Lawyer, Oklahoma, page 2

Sponsored Law Firm

Pritchett Law Group

SPONSORED LAWYERS

Kelli Allison Condict Jackson

William Robert Dill

Benjamin Paul Butler

Wendy L. Hill

John Curtis Mackey

Whitney Ruth Beard Alvis

Cathleen Ann Jones

Hal William Ezzell

James Lawrence Bintz

Patrick Raymond Carlson

TIPS

LEGAL TERMS

ACCUMULATION TRUST

QDOT TRUST

EXECUTOR

DISINHERIT

GENERATION-SKIPPING TRANSFER TAX

INTESTATE SUCCESSION

DEATH TAXES

SPENDTHRIFT TRUST

DISCHARGE (OF PROBATE ADMINISTRATOR)

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