Tulsa Estate Planning Lawyer, Oklahoma, page 7

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Clifton Baker
About | Practice Areas
Baker Law Tulsa, PLLC
5551 South Lewis Ave Suite A Tulsa, OK 74105» view map
Divorce & Family Law
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Let Baker Law Tulsa, PLLC handle all your legal needs today!

800-828-0670
1. Clifton Baker Tulsa, OK
  Attorney at Law, OK
  Oklahoma City University School of Law, J.D. 1975
2. AboutBaker Law Tulsa, PLLC
  A Law Firm That Cares
3. Practice AreasExpertise
  Divorce & Family Law
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Includes: Gift Taxation

E. John Eagleton

Tax, Estate Planning, Transactions, Corporate

Status: In Good Standing

CONTACT

320 South Boston Avenue, Tulsa, OK 74103

E. Carleton James

General Practice

Status: In Good Standing

CONTACT

6737 E 66Th St, Tulsa, OK 74133

Elizabeth Meyer Ferrari

Estate, Divorce, Felony, Estate Planning

Status: In Good Standing

CONTACT

114 S 3Rd St, Tulsa, OK 74137

Elliot Paul Anderson

Mediation, Estate Planning, Workers' Compensation, Bankruptcy

Status: In Good Standing Licensed: 11 Years

CONTACT

222 N Detroit Ave, Tulsa, OK 74103

Ernie Bedford

Dispute Resolution, Employment Discrimination, Gift Taxation

Status: In Good Standing

CONTACT

Tulsa, OK 74133

Everett R. Buss

Elder Law, Gift Taxation, Corporate, Trusts

Status: In Good Standing

CONTACT

11960 E 86Th St N, Owasso, OK 74055

Forrest Benjamin Hess

Mediation, Civil Rights, Divorce, Estate Planning

Status: In Good Standing

CONTACT

8283 Owasso Expressway, Owasso, OK 74055

Frederic Arden Pottorf

General Practice

Status: In Good Standing

CONTACT

3914 E 104Th St, Tulsa, OK 74137

Gary L. Maddux

Estate Planning, Business

Status: In Good Standing

CONTACT

525 South Main Street, Tulsa, OK 74103

Gene Thompson

Estate Planning, Estate, Family Law, Divorce & Family Law

Status: In Good Standing

CONTACT

301 East Dewey Avenue, Sapulpa, OK 74066

800-923-0641

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LEGAL TERMS

HEIR APPARENT

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

REAL ESTATE AGENT

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must hav... (more...)

A foot soldier of the real estate business who shows houses and does most of the other nitty-gritty tasks associated with selling real estate. An agent must have a state license and be supervised by a real estate broker. Most agents are completely dependent upon commissions from sellers for their income, so it pays to find out which side the agent represents (buyer, seller or both) before you place too much trust in the agent's opinion.

DEVISEE

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

ESTATE TAXES

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and... (more...)

Taxes imposed by the state or federal government on property as it passes from the dead to the living. All property you own, whatever the form of ownership, and whether or not it goes through probate after your death, is subject to federal estate tax. Currently, however, federal estate tax is due only if your property is worth at least $2 million when you die. The estate tax is scheduled to be repealed for one year, in 2010, but Congress will probably make the repeal (or a very high exempt amount) permanent. Any property left to a surviving spouse (if he or she is a U.S. citizen) or a tax-exempt charity is exempt from federal estate taxes. Many states now also impose their own estate taxes or inheritance taxes.

MARITAL LIFE ESTATE TRUST

See AB trust.

AUGMENTED ESTATE

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used on... (more...)

In general terms, an augmented estate consists of property owned by both a deceased person and his or her spouse. The concept of the augmented estate is used only in some states. Its value is calculated only if a surviving spouse declines whatever he or she was left by will and instead claims a share of the deceased spouse's estate. (This is called taking against the will.) The amount of this 'statutory share' or 'elective share' depends on state law.

GENERATION-SKIPPING TRANSFER TAX

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 ... (more...)

A federal tax imposed on money placed in a generation-skipping trust. Currently, there is a $1 million exemption to the GSTT; that is, each person may leave $1 million in a generation-skipping trust free of this tax. The GSST is imposed when the middle-generation beneficiaries die and the property is transferred to the third-generation beneficiaries. Every dollar over $1 million is subject to the highest existing estate tax rate--currently 55%--at the time the GSTT tax is applied.

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using... (more...)

A statute that allows people to name a beneficiary to inherit stocks or bonds without probate. The owner of the securities can register them with a broker using a simple form that names a person to receive the property after the owner's death. Every state but Texas has adopted the statute.

SUCCESSOR TRUSTEE

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

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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Tulsa Estate Planning Lawyer, Oklahoma, page 7

Sponsored Law Firm

Baker Law Tulsa, PLLC

SPONSORED LAWYERS

E. John Eagleton

E. Carleton James

Elizabeth Meyer Ferrari

Elliot Paul Anderson

Ernie Bedford

Everett R. Buss

Forrest Benjamin Hess

Frederic Arden Pottorf

Gary L. Maddux

Gene Thompson

TIPS

LEGAL TERMS

HEIR APPARENT

REAL ESTATE AGENT

DEVISEE

ESTATE TAXES

MARITAL LIFE ESTATE TRUST

AUGMENTED ESTATE

GENERATION-SKIPPING TRANSFER TAX

UNIFORM TRANSFER-ON-DEATH SECURITY ACT

SUCCESSOR TRUSTEE

SAMPLE LEGAL CASES

In re Marriage of Murphy

Edwards v. Urice

Friedman v. Craig

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