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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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Includes: Gift Taxation

W. Todd Holman

Gift Taxation, Divorce & Family Law, Corporate

Status: In Good Standing

CONTACT

525 South Main Street, Tulsa, OK 74103

Gary L. Maddux

Estate Planning, Business

Status: In Good Standing

CONTACT

525 South Main Street, Tulsa, OK 74103

Margaret L. Kobos

Litigation, Estate Planning, Municipal, Real Estate

Status: In Good Standing

CONTACT

124 East Fourth Street, Tulsa, OK 74103

Charles D. Harrison

Gift Taxation, Estate Planning, Child Custody, Corporate, Contract

Status: In Good Standing

CONTACT

320 S Boston Ave, Tulsa, OK 74103

Kenneth F. Albright

Securities, International Tax, Oil & Gas, Estate Planning

Status: In Good Standing

CONTACT

15 West Sixth Street, Tulsa, OK 74119

William Edward Farrior

Tax, International Tax, Gift Taxation, Estate Planning

Status: In Good Standing

CONTACT

110 W 7Th St, Tulsa, OK 74119

Don W. Danz

Insurance, Employee Rights, Federal Appellate Practice, Gift Taxation

Status: In Good Standing

CONTACT

15 East 5th Street, Tulsa, OK 74103

Steven Allen Hart

International Tax, Estate Planning, Divorce, Business

Status: In Good Standing

CONTACT

401 S. Boston Ave., Tulsa, OK 74103

Mark E Hardin

Wills & Probate, Estate Planning, Elder Law, Medical Malpractice

Status: In Good Standing

CONTACT

907 S Detroit Ave, Tulsa, OK 74120

Donald E. Pray

Banking & Finance, Estate Planning, Corporate

Status: In Good Standing

CONTACT

100 West 5Th Street, Tulsa, OK 74103

800-923-0641

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LEGAL TERMS

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.

LIVING TRUST

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the t... (more...)

A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the trust during your life passes directly to the trust beneficiaries after you die, without court involvement. The successor trustee--the person you appoint to handle the trust after your death--simply transfers ownership to the beneficiaries you named in the trust. Living trusts are also called 'inter vivos trusts.'

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.

TESTAMENTARY TRUST

A trust created by a will, effective only upon the death of the willmaker.

PROPERTY CONTROL TRUST

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who ha... (more...)

Any trust that imposes limits or controls over the rights of trust beneficiaries. These trusts include (1) special needs trusts designed to assist people who have special physical, emotional or other requirements, (2) spendthrift trusts designed to prevent a beneficiary from wasting the trust principal; and (3) sprinkling trusts that allow the trustee to decide how to distribute trust income or principal among the beneficiaries.

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

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.

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.

FAMILY ALLOWANCE

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to ... (more...)

A certain amount of a deceased person's money to which immediate family members are entitled at the beginning of the probate process. The allowance is meant to help support the surviving spouse and children during the time it takes to probate the estate. The amount is determined by state law and varies greatly from state to state.

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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Hallett Estate Planning Lawyer, Oklahoma, page 5

Sponsored Law Firm

Pritchett Law Group

SPONSORED LAWYERS

W. Todd Holman

Gary L. Maddux

Margaret L. Kobos

Charles D. Harrison

Kenneth F. Albright

William Edward Farrior

Don W. Danz

Steven Allen Hart

Mark E Hardin

Donald E. Pray

TIPS

LEGAL TERMS

INTESTATE SUCCESSION

LIVING TRUST

INHERITANCE TAXES

TESTAMENTARY TRUST

PROPERTY CONTROL TRUST

CHARITABLE TRUST

SPRINKLING TRUST

ACCUMULATION TRUST

FAMILY ALLOWANCE

SAMPLE LEGAL CASES

In re Marriage of Murphy

Edwards v. Urice

Friedman v. Craig

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