Checotah Estate Lawyer, Oklahoma

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Clifton Baker
About | Practice Areas
Baker Law Tulsa, PLLC
5551 South Lewis Ave Suite A Tulsa, OK 74105» view map
Divorce & Family Law
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800-828-0670
1. Clifton Baker Tulsa, OK
  Attorney at Law, OK
  Oklahoma City University School of Law, J.D. 1975
2. AboutBaker Law Tulsa, PLLC
  A Law Firm That Cares
3. Practice AreasExpertise
  Divorce & Family Law
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Shannon L. Prescott

Insurance, Civil Rights, Family Law, Estate Planning

Status: In Good Standing

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114 North Grand Avenue, Okmulgee, OK 74447

Hilary Kate McKinney

Bankruptcy, Indians & Native Populations, Wills & Probate, Property & Casualty

Status: In Good Standing

CONTACT

114 N. Grand Ave., Okmulgee, OK 74447

Hilary Mckinney Sadhoo

Real Estate, Bankruptcy, Estate Planning, Indians & Native Populations

Status: In Good Standing

CONTACT

114 N. Grand Ave., Okmulgee, OK 74447

800-923-0641

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LEGAL TERMS

ALTERNATE BENEFICIARY

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to ... (more...)

A person, organization or institution that receives property through a will, trust or insurance policy when the first named beneficiary is unable or refuses to take the property. For example, in his will Jake leaves his collection of sheet music to his daughter, Mia, and names the local symphony as alternate beneficiary. When Jake dies, Mia decides that the symphony can make better use of the sheet music than she can, so she refuses (disclaims) the gift, and the manuscripts pass directly to the symphony. In insurance law, the alternate beneficiary, usually the person who receives the insurance proceeds because the initial or primary beneficiary has died, is called the secondary or contingent beneficiary.

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.

KINDRED

Under some state's probate codes, all relatives of a deceased person.

IRREVOCABLE TRUST

A permanent trust. Once you create it, it cannot be revoked, amended or changed in any way.

LAPSE

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. S... (more...)

Under a will, the failure of a gift of property. A gift lapses when the beneficiary dies before the person who made the will, and no alternate has been named. Some states have anti-lapse statutes, which prevent gifts to relatives of the deceased person from lapsing unless the relative has no heirs of his or her own. A lapsed gift becomes part of the residuary estate.

FINAL BENEFICIARY

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jan... (more...)

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.

CERTIFIED COPY

A copy of a document issued by a court or government agency guaranteed to be a true and exact copy of the original. Many agencies and institutions require certi... (more...)

A copy of a document issued by a court or government agency guaranteed to be a true and exact copy of the original. Many agencies and institutions require certified copies of legal documents before permitting certain transactions. For example, a certified copy of a death certificate is required before a bank will release the funds in a deceased person's payable-on-death account to the person who has inherited them.

SURVIVING SPOUSE'S TRUST

If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.

CONSERVATOR

Someone appointed by a judge to oversee the affairs of an incapacitated person. A conservator who manages financial affairs is often called a 'conservator of th... (more...)

Someone appointed by a judge to oversee the affairs of an incapacitated person. A conservator who manages financial affairs is often called a 'conservator of the estate.' One who takes care of personal matters, such as healthcare and living arrangements, is known as a 'conservator of the person.' Sometimes, one conservator is appointed to handle all these tasks. Depending on where you live, a conservator may also be called a guardian, committee or curator.

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Checotah Estate Lawyer, Oklahoma

Sponsored Law Firm

Baker Law Tulsa, PLLC

SPONSORED LAWYERS

Shannon L. Prescott

Hilary Kate McKinney

Hilary Mckinney Sadhoo

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LEGAL TERMS

ALTERNATE BENEFICIARY

GENERATION-SKIPPING TRUST

KINDRED

IRREVOCABLE TRUST

LAPSE

FINAL BENEFICIARY

CERTIFIED COPY

SURVIVING SPOUSE'S TRUST

CONSERVATOR

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