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Clifton Baker
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Baker Law Tulsa, PLLC
5551 South Lewis Ave Suite A Tulsa, OK 74105» view map
Divorce & Family Law
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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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Includes: Gift Taxation

Dawn Marie Rahme

Tax, Gift Taxation, Estate Planning, Corporate

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101 N Robinson Ave, Oklahoma City, OK 73102

Armand Paliotta

Patent, Health Care, Government Agencies, Gift Taxation

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201 Robert S Kerr Ave, Oklahoma City, OK 73102

Jon Hunter Trudgeon

Health Care, Government Agencies, Gift Taxation, Banking & Finance

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201 Robert S Kerr Ave, Oklahoma City, OK 73102

Michael A. Bickford

Litigation, Bankruptcy, Estate Planning, Business

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201 Robert S Kerr Ave, Oklahoma City, OK 73102

Robert Vernon Varnum

Landlord-Tenant, Federal Appellate Practice, Estate Planning, Estate Planning, Trusts

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1708 Drury Ln, Oklahoma City, OK 73116

Susan Stocker Shields

Trusts, Gift Taxation

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211 N Robinson Street, Oklahoma City, OK 73102

Sandi Suzanne Seale

Wills, Divorce, Estate Planning, Family Law

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2438 Nw 51St St, Oklahoma City, OK 73112

Robert M. Vaughn

Bankruptcy, Gift Taxation, Bankruptcy & Debt, Corporate

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3030 Nw Expressway, Oklahoma City, OK 73112

Mead John Hedglon

Employment Discrimination, Elder Law, Gift Taxation, Trusts

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5733 Nw 86Th St, Oklahoma City, OK 73132

Scott Ralston Farris

Oil & Gas, Federal Appellate Practice, Estate Planning

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1711 Dorchester Dr, Oklahoma City, OK 73120

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LEGAL TERMS

MARITAL LIFE ESTATE TRUST

See AB trust.

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.

TRUSTEE

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income ... (more...)

The person who manages assets owned by a trust under the terms of the trust document. A trustee's purpose is to safeguard the trust and distribute trust income or principal as directed in the trust document. With a simple probate-avoidance living trust, the person who creates the trust is also the trustee.

ESTATE TAXES

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and... (more...)

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.

SPRINKLING TRUST

A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.

INHERITANCE TAXES

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited prop... (more...)

Taxes some states impose on people or organizations who inherit property from a deceased person's estate. The taxes are based on the value of the inherited property.

ENDOWMENT INSURANCE

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death.... (more...)

Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy--that is, the amount paid at death. If the policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.

INTESTATE

The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.

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.

SAMPLE LEGAL CASES

In re Marriage of Murphy

... Id. Joint revocable trusts are an alternative estate planning technique which have become popular in common-law property states because they avoid probate and the need to sever jointly owned assets into separate trusts for each spouse. Id. at 346-347. ...

Edwards v. Urice

... 22 The evidence in the record establishes the following facts. Urice was not related to Bowers by blood and was not a natural object of her bounty. Prior to 1997, Bowers had never mentioned Urice in her estate planning or wanted him to be involved in her financial affairs. ...

Friedman v. Craig

... The motion included affidavits to support Appellant's defense against a fraudulent conveyance, ie, the transfer of the joint tenancy interest in Appellant's home to Craig in 2001 was an estate planning device necessitated by her heart surgery and a concurrently-executed second ...

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Tuttle Estate Planning Lawyer, Oklahoma, page 7

Sponsored Law Firm

Baker Law Tulsa, PLLC

SPONSORED LAWYERS

Dawn Marie Rahme

Armand Paliotta

Jon Hunter Trudgeon

Michael A. Bickford

Robert Vernon Varnum

Susan Stocker Shields

Sandi Suzanne Seale

Robert M. Vaughn

Mead John Hedglon

Scott Ralston Farris

TIPS

LEGAL TERMS

MARITAL LIFE ESTATE TRUST

INTESTATE SUCCESSION

TRUSTEE

ESTATE TAXES

SPRINKLING TRUST

INHERITANCE TAXES

ENDOWMENT INSURANCE

INTESTATE

GENERATION-SKIPPING TRANSFER TAX

SAMPLE LEGAL CASES

In re Marriage of Murphy

Edwards v. Urice

Friedman v. Craig

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