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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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Alex L. Hammack

Gift Taxation, Estate Planning, Estate, Employment

Status: In Good Standing

CONTACT

10441 S. Regal Blvd, Tulsa, OK 74133

Todd F. Hudgins

Power of Attorney, Wills, Gift Taxation, Contract

Status: In Good Standing Licensed: 21 Years

CONTACT

9315 S Toledo Ave, Tulsa, OK 74137

Michael Jay McDaniel

Employment, Estate, Lawsuit & Dispute, Real Estate

Status: In Good Standing Licensed: 24 Years

CONTACT

4725 East 91st Street, Tulsa, OK 74137

Melissa Dawn Mailath

Real Estate, Litigation, Estate, Corporate

Status: In Good Standing

CONTACT

6226 E 101st St, Tulsa, OK 74137

Helen Talbot Epstein

Dispute Resolution, Federal Appellate Practice, Elder Law, Estate Planning

Status: In Good Standing

CONTACT

8887 South Lewis, Tulsa, OK 74137

Shannon L. Prescott

Insurance, Civil Rights, Family Law, Estate Planning

Status: In Good Standing

CONTACT

5801 East 41St Street, Tulsa, OK 74133

Blake Allen Johnson

Gift Taxation, Estate Planning, Tax, Trusts

Status: In Good Standing

CONTACT

9175 S Yale Ave, Tulsa, OK 74137

John Earl Butler

Administrative Law, Social Security, Bankruptcy & Debt, Gift Taxation

Status: In Good Standing

CONTACT

8917 South Sandusky Ave, Tulsa, OK 74137

Demont W. Mcneil

International, Gift Taxation, Tax

Status: In Good Standing Licensed: 41 Years

CONTACT

9632 S 67Th East Ave, Tulsa, OK 74133

Carrie Anne House

Wills & Probate, Wills

Status: In Good Standing

CONTACT

9175 S. Yale Ave, Tulsa, OK 74137

800-923-0641

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LEGAL TERMS

SUCCESSOR TRUSTEE

The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.

GROSS ESTATE

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of prob... (more...)

For federal estate tax filing purposes, the total of all property owned at death, without regard to any debts or liens against the property or the costs of probate. Taxes are due only on the value of the property the person actually owned (the net estate) plus the amount of any taxable gifts made during life. In a few states, the gross estate is used when computing attorney fees for probating estates; the lawyer gets a percentage of the gross estate.

RESIDUARY ESTATE

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court c... (more...)

The property that remains in a deceased person's estate after all specific gifts are made, and all debts, taxes, administrative fees, probate costs, and court costs are paid. The residuary estate also includes any gifts under a will that fail or lapse. For example, Connie's will leaves her house and all its furnishings to Andrew, her VW bug to her friend Carl, and the remainder of her property (the residuary estate) to her sister Sara. She doesn't name any alternate beneficiaries. Carl dies before Connie. The VW bug becomes part of the residuary estate and passes to Sara, along with all of Connie's property other than the house and furnishings. Also called the residual estate or residue.

SPENDTHRIFT TRUST

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the benefi... (more...)

A trust created for a beneficiary the grantor considers irresponsible about money. The trustee keeps control of the trust income, doling out money to the beneficiary as needed, and sometimes paying third parties (creditors, for example) on the beneficiary's behalf, bypassing the beneficiary completely. Spendthrift trusts typically contain a provision prohibiting creditors from seizing the trust fund to satisfy the beneficiary's debts. These trusts are legal in most states, even though creditors hate them.

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.

MARITAL LIFE ESTATE TRUST

See AB trust.

INVESTOR

A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes invest... (more...)

A person who makes investments. An investor may act either for herself or on behalf of others. A stock broker or mutual fund manager, for instance, makes investments for others who have entrusted her with their money.

SELF-PROVING WILL

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-prov... (more...)

A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.

ABATEMENT

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other exp... (more...)

A reduction. After a death, abatement occurs if the deceased person didn't leave enough property to fulfill all the bequests made in the will and meet other expenses. Gifts left in the will are cut back in order to pay taxes, satisfy debts or take care of other gifts that are given priority under law or by the will itself.

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Okemah Estate Lawyer, Oklahoma, page 3

Sponsored Law Firm

Pritchett Law Group

SPONSORED LAWYERS

Alex L. Hammack

Todd F. Hudgins

Michael Jay McDaniel

Melissa Dawn Mailath

Helen Talbot Epstein

Shannon L. Prescott

Blake Allen Johnson

John Earl Butler

Demont W. Mcneil

Carrie Anne House

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LEGAL TERMS

SUCCESSOR TRUSTEE

GROSS ESTATE

RESIDUARY ESTATE

SPENDTHRIFT TRUST

FAMILY ALLOWANCE

MARITAL LIFE ESTATE TRUST

INVESTOR

SELF-PROVING WILL

ABATEMENT

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