Laverne Trusts Lawyer, Oklahoma

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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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LEGAL TERMS

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.

DOWER AND CURTESY

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') ... (more...)

A surviving spouse's right to receive a set portion of the deceased spouse's estate -- usually one-third to one-half. Dower (not to be confused with a 'dowry') refers to the portion to which a surviving wife is entitled, while curtesy refers to what a man may claim. Until recently, these amounts differed in a number of states. However, because discrimination on the basis of sex is now illegal in most cases, most states have abolished dower and curtesy and generally provide the same benefits regardless of sex -- and this amount is often known simply as the statutory share. Under certain circumstances, a living spouse may not be able to sell or convey property that is subject to the other spouse's dower and curtesy or statutory share rights.

INCOMPETENCE

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at ... (more...)

The inability, as determined by a court, to handle one's own personal or financial affairs. A court may declare that a person is incompetent after a hearing at which the person is present and/or represented by an attorney. A finding of incompetence may lead to the appointment of a conservator to manage the person's affairs. Also known as 'incompetency.'

KINDRED

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

GRANTOR

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

SURROGATE COURT

See probate court.

PER STIRPES

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living children of his or her own. F... (more...)

Under a will, a method of determining who inherits property when a joint beneficiary has died before the willmaker, leaving living 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 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). If, on the other hand, Fred's will states that the property is to be divided per capita, Julie and the two grandchildren will each take a third.

PERSONAL PROPERTY

All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, p... (more...)

All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, patents, pets and season baseball tickets are all examples of personal property. Personal property may also be called personal effects, movable property, goods and chattel, and personalty. Compare real estate.

WILL

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for you... (more...)

A document in which you specify what is to be done with your property when you die and name your executor. You can also use your will to name a guardian for your young children.

SAMPLE LEGAL CASES

In re Estate of Jackson

... in which, relying on Thomas v. Bank of Okla., NA, 1984 OK 41, 684 P.2d 553, he argued that in the September 3, 2003 order, the trial court found him to be Jackson's son and Jackson's sole surviving heir at law; that the terms of title 84, section 132 applied to trusts, as well as ...

In re Lorice T. Wallace Revocable Trust

... of the No-Contest Provisions of the Lorice T. Wallace Revocable Trust and the Lorice T. Wallace Irrevocable Trust." After a hearing the trial court found that the respondent-appellant, Mary Roma Wallace Jage, had violated the no-contest provisions included in the two trusts. ...

Welch v. Crow

... [13]. A. Title 84 OS 2001 Â§132 Does Not Apply To Revocable Inter Vivos Trusts. ... [14] The trustees respond that Â§132 applies only to wills, and not to trusts. Our recent opinion in In re Estate of Jackson, 2008 OK 83, 194 P.3d 1269, is dispositive of the question. ...

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Laverne Trusts Lawyer, Oklahoma

Sponsored Law Firm

Pritchett Law Group

SPONSORED LAWYERS

Robyn Renee Girton

Jim Don Dowell

Christopher Todd Trippet

Brinda Kaye White

Vickie Leigh Cook

Thad Burnett Parsons

John Russell Meinders

Richard Phillip Trippet

Thomas J Jones

Thomas J Jones

TIPS

LEGAL TERMS

ACCUMULATION TRUST

DOWER AND CURTESY

INCOMPETENCE

KINDRED

GRANTOR

SURROGATE COURT

PER STIRPES

PERSONAL PROPERTY

WILL

SAMPLE LEGAL CASES

In re Estate of Jackson

In re Lorice T. Wallace Revocable Trust

Welch v. Crow

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