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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: Estate Administration, Living Wills, Wills

Tina Ann Hall

Social Security -- Disability, Family Law, Wills & Probate, Workers' Compensation

Status: In Good Standing

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1705 S. Van Buren Street, Enid, OK 73703

Michael Gene Smith

Oil & Gas, Wills, Credit & Debt, Bankruptcy

Status: In Good Standing

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9857 N 2210 Rd, Arapaho, OK 73620

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

800-923-0641

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LEGAL TERMS

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.

MARITAL LIFE ESTATE TRUST

See AB trust.

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.

PROVING A WILL

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily sat... (more...)

Convincing a probate court that a document is truly the deceased person's will. Usually this is a simple formality that the executor or administrator easily satisfies by showing that the will was signed and dated by the deceased person in front of two or more witnesses. When the will is holographic -- that is, completely handwritten by the deceased and not witnessed, it is still valid in many states if the executor can produce relatives and friends to testify that the handwriting is that of the deceased.

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.

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.

DISINHERIT

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit prope... (more...)

To deliberately prevent someone from inheriting something. This is usually done by a provision in a will stating that someone who would ordinarily inherit property -- a close family member, for example -- should not receive it. In most states, you cannot completely disinherit your spouse; a surviving spouse has the right to claim a portion (usually one-third to one-half) of the deceased spouse's estate. With a few exceptions, however, you can expressly disinherit children.

FINAL BENEFICIARY

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jan... (more...)

The person or institution designated to receive trust property upon the death of a life beneficiary. For example, Jim creates a trust through which his wife Jane receives income for the duration of her life. Their daughter, the final beneficiary, receives the trust principal after Jane's death.

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.

SAMPLE LEGAL CASES

In re Estate of Speers

... Mark Morrison, Durant, OK, for Appellee. KAUGER, J. Â¶ 1 The issue presented is whether the trial court erred in admitting the contested will to probate. We find that it did. FACTS. ... She filed her petition on June 2, 2005, seeking to admit it to probate. ...

Tucker v. New Dominion, LLC

... Ms. Hrdy died in 1987. This mineral estate was not included in the final probate order, leaving Ms. Hrdy as the record owner and leaving the probate order unindexed against the subject property in the Pottawatomie County clerk's office. [1]. ...

In re Hyde

... 12 Employer argues that the district court's judgment is not applicable to it because it was not a party to the probate proceedings. ... The issue of Decedent and Wife's marital status was resolved by the district court in Lincoln County during the probate proceedings. ...

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Fay Wills & Probate Lawyer, Oklahoma

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Pritchett Law Group

SPONSORED LAWYERS

Tina Ann Hall

Michael Gene Smith

Patrick T. Cornell

Carissa Cae King

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LEGAL TERMS

SPENDTHRIFT TRUST

MARITAL LIFE ESTATE TRUST

LAPSE

PROVING A WILL

GROSS ESTATE

CONTINGENT BENEFICIARY

DISINHERIT

FINAL BENEFICIARY

DOWER AND CURTESY

SAMPLE LEGAL CASES

In re Estate of Speers

Tucker v. New Dominion, LLC

In re Hyde

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