Schulter Trusts Lawyer, Oklahoma

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Brittany Littleton

Estate Planning, Trusts, Wills & Probate, Business
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Anne M McKinney

Estate Planning, Wills & Probate, Tax, Trusts
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Kara Marisa Greuel

Wills, Wills & Probate, Trusts, Elder Law
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Jeffry Conner Steen

Real Estate, Wills & Probate, Trusts, Estate
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Carol Simmons Nichols

Adoption, Trusts, Estate Planning, Guardianships & Conservatorships
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Jerry Dean Lundy

Bankruptcy & Debt, Consumer Bankruptcy, Estate Planning, Trusts, Wills & Probate
Status:  In Good Standing           Licensed:  29 Years

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James D. Folsom

Elder Law, Contract, Trusts, Commercial Real Estate
Status:  In Good Standing           

James D. Folsom

Elder Law, Contract, Trusts, Commercial Real Estate
Status:  In Good Standing           

Robert Carlyle Butler

Divorce, Estate Planning, Family Law, Trusts
Status:  In Good Standing           

Robt Linthicum Ivester

Oil & Gas, Trusts, Commercial Real Estate, Estate Planning
Status:  In Good Standing           

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LEGAL TERMS

LIFE BENEFICIARY

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

DEVISEE

A person or entity who inherits real estate under the terms of a will.

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.

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.

CERTIFICATION OF TRUST

See abstract of trust.

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).

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.

PER CAPITA

Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leavin... (more...)
Under a will, the most common method of determining what share of property each beneficiary gets when one of the beneficiaries dies before the willmaker, leaving 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 capita, Julie and the two grandchildren will each take a third. If, on the other hand, 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).

HEIR APPARENT

One who expects to be receive property from the estate of a family member, as long as she outlives that person.

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 §132 Does Not Apply To Revocable Inter Vivos Trusts. ... [14] The trustees respond that §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. ...