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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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Includes: Gift Taxation

Harold David Hanes

Bankruptcy, Estate Planning, Litigation, Personal Injury

Status: In Good Standing

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508 West Vandament, Yukon, OK 73099

Carissa Cae King

Gift Taxation

Status: In Good Standing

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118 W Main St, Weatherford, OK 73096

Patrick James Gibson

Adoption, Gift Taxation

Status: In Good Standing

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302 N Main St, Kingfisher, OK 73750

James Carter Bass

Corporate, Contract, Elder Law, Estate Planning

Status: In Good Standing

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El Reno, OK 73036

Randy Dean Mecklenburg

Elder Law, Gift Taxation, Estate, Corporate

Status: In Good Standing

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Kingfisher, OK 73750

Patrick T. Cornell

Wills & Probate, Estate Planning, Corporate, Banking & Finance

Status: In Good Standing

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117 N. 5Th, Clinton, OK 73601

Carissa Cae King

Wills & Probate, Estate Planning, Trusts, Gift Taxation

Status: In Good Standing

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814 Frisco Avenue, Clinton, OK 73601

Jennifer Nicole Thomason

Estate Planning, Trusts, Wills, Civil & Human Rights

Status: In Good Standing

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115 E. Vandament, Yukon, OK 73099

Steven A. Barker

Bankruptcy, Divorce, Estate Planning, State Appellate Practice

Status: In Good Standing

CONTACT

508 W. Vandament, Yukon, OK 73099

800-923-0641

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LEGAL TERMS

CONTINGENT BENEFICIARY

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisf... (more...)

1) An alternate beneficiary named in a will, trust or other document. 2) Any person entitled to property under a will if one or more prior conditions are satisfied. For example, if Fred is entitled to take property under a will only if he's married at the time of the will maker's death, Fred is a contingent beneficiary. Similarly, if Ellen is named to receive a house only in the event her mother, who has been named to live in the house, moves out of it, Ellen is a contingent beneficiary.

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.

SPECIFIC BEQUEST

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequ... (more...)

A specific item of property that is left to a named beneficiary under a will. If the person who made the will no longer owns the property when he dies, the bequest fails. In other words, the beneficiary cannot substitute a similar item in the estate. Example: If John leaves his 1954 Mercedes to Patti, and when John dies the 1954 Mercedes is long gone, Patti doesn't receive John's current car or the cash equivalent of the Mercedes. See ademption.

GRANTOR

Someone who creates a trust. Also called a trustor or settlor.

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.

STATUTORY SHARE

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceas... (more...)

The portion of a deceased person's estate that a spouse is entitled to claim under state law. The statutory share is usually one-third or one-half of the deceased spouse's property, but in some states the exact amount of the spouse's share depends on whether or not the couple has young children and, in a few states, on how long the couple was married. In most states, if the deceased spouse left a will, the surviving spouse must choose either what the will provides or the statutory share. Sometimes the statutory share is known by its more arcane legal name, dower and curtesy, or as a forced or elective share.

LIFE BENEFICIARY

A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.

SWEARING MATCH

A case that turns on the word of one witness versus another. The outcome of a swearing match usually depends on whom the jury finds most trustworthy.

BYPASS TRUST

A trust designed to lessen a family's overall estate tax liability. An AB trust is the most popular kind of bypass trust.

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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Greenfield Estate Planning Lawyer, Oklahoma

Sponsored Law Firm

Baker Law Tulsa, PLLC

SPONSORED LAWYERS

Harold David Hanes

Carissa Cae King

Patrick James Gibson

James Carter Bass

Randy Dean Mecklenburg

Patrick T. Cornell

Carissa Cae King

Jennifer Nicole Thomason

Steven A. Barker

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LEGAL TERMS

CONTINGENT BENEFICIARY

ACCUMULATION TRUST

SPECIFIC BEQUEST

GRANTOR

LAPSE

STATUTORY SHARE

LIFE BENEFICIARY

SWEARING MATCH

BYPASS TRUST

SAMPLE LEGAL CASES

In re Marriage of Murphy

Edwards v. Urice

Friedman v. Craig

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