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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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David L Cummins

Estate, Criminal

Status: In Good Standing

CONTACT

215 N 2Nd Blvd, Hollis, OK 73550

Corry Kendall

Contract, Credit & Debt, Divorce, Trusts

Status: In Good Standing

CONTACT

122 N Oklahoma Ave, Mangum, OK 73554

David Brooks

Real Estate, Wills & Probate, Family Law, Criminal

Status: In Good Standing

CONTACT

119 E Main St, Sayre, OK 73662

Thomas S. Ivester

Oil & Gas, Business, Estate, Gift Taxation

Status: In Good Standing

CONTACT

Sayre, OK 73662

Mark T. Coke

Real Estate, Trusts, Estate, Corporate, Banking & Finance

Status: In Good Standing

CONTACT

205 West Cypress, Altus, OK 73522

Robert A McMahan

Estate Planning, Products Liability, Personal Injury, Medical Malpractice, Car Accident

Status: In Good Standing

CONTACT

217 W Commerce St, Altus, OK 73521

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

Sommer Kendall Robbins

Insurance, Adoption, Immigration, Estate Planning

Status: In Good Standing

CONTACT

101 N Main St, Altus, OK 73522

Rebecca Nicole Beason

Divorce & Family Law, Criminal, Estate, Business

Status: In Good Standing

CONTACT

108 West Broadway, Altus, OK 73521

Kelli Rae Woodson

Trusts, Family Law, Insurance, Corporate

Status: In Good Standing

CONTACT

106 West Broadway, Altus, OK 73521

800-923-0641

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LEGAL TERMS

ADMINISTRATION (OF AN ESTATE)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.

TRUST MERGER

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separati... (more...)

Under a trust, the situation that occurs when the sole trustee and the sole beneficiary are the same person or institution. Then, there's no longer the separation between the trustee's legal ownership of trust property from the beneficiary's interest. The trust 'merges' and ceases to exist.

QTIP TRUST

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the... (more...)

A type of trust for wealthy married couples that allows a surviving spouse to postpone estate taxes. A QTIP trust allows the surviving spouse to make use of the trust property tax-free. Taxes are deferred until the surviving spouse dies and the trust property is received by the final trust beneficiaries, who were named by the first spouse to die.

SUMMARY PROBATE

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are ... (more...)

A relatively simple probate proceeding available for 'small estates,' as that term is defined by state law. Every state's definition is different, and many are complicated, but a few examples include estates worth up to $100,000 in California; New York estates where property, excluding real estate and amounts that must be set aside for surviving family members, is worth $20,000 or less; and Texas estates where the value of property doesn't exceed what is needed to pay a family allowance and certain creditors.

GENERATION-SKIPPING TRUST

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income fro... (more...)

A trust designed to save on estate tax. The trust principal is preserved for the trust maker's grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn't subject to estate tax at their death. See generation-skipping transfer tax.

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.

GRANT DEED

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as descri... (more...)

A deed containing an implied promise that the person transfering the property actually owns the title and that it is not encumbered in any way, except as described in the deed. This is the most commonly used type of deed. Compare quitclaim deed.

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).

ANCILLARY PROBATE

A probate proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually, ancillary probate proceedings are... (more...)

A probate proceeding conducted in a different state from the one the deceased person resided in at the time of death. Usually, ancillary probate proceedings are necessary if the deceased person owned real estate in another state.

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Vinson Estate Lawyer, Oklahoma

Sponsored Law Firm

Pritchett Law Group

SPONSORED LAWYERS

David L Cummins

Corry Kendall

David Brooks

Thomas S. Ivester

Mark T. Coke

Robert A McMahan

Michael Todd Beason

Sommer Kendall Robbins

Rebecca Nicole Beason

Kelli Rae Woodson

TIPS

LEGAL TERMS

ADMINISTRATION (OF AN ESTATE)

TRUST MERGER

QTIP TRUST

SUMMARY PROBATE

GENERATION-SKIPPING TRUST

EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA)

GRANT DEED

PER CAPITA

ANCILLARY PROBATE

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