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405 Magazine selects Phillips Murrah for 2020 Oklahoma Top Attorneys

Phillips Murrah is honored to have 13 attorneys selected as Oklahoma Top Attorneys for 2020 by 405 Magazine. Attorneys are selected for the list by an online peer-voting and research process facilitated by DataJoe Research across various practice areas.

For more information on each listed attorney, visit their profile by clicking on their portrait or contact information below:

Oklahoma Top Attorney for Banking and Financial Law:

. Mark Lovelace Oklahoma Top Attorney Banking and Financial Law

J. Mark Lovelace, Director
405.552.2404
jmlovelace@phillipsmurrah.com

 

Donald A. Pape Oklahoma Top Attorney Banking and Financial Law

Donald A. Pape, Of Counsel
405.364.3346
dapape@phillipsmurrah.com


Oklahoma Top Attorney for Business Law:

Robert O. O'Bannon Oklahoma Top Attorney Business Law

Robert O. O’Bannon, Director
405.552.2483
roobannon@phillipsmurrah.com


Oklahoma Top Attorney for Civil Law Transactional:

A. Michelle Campney Oklahoma Top Attorney Civil Law Transactional

A. Michelle Campney, Of Counsel
405.552.2487
amcampney@phillipsmurrah.com


Oklahoma Top Attorney for Commercial Litigation:

Thomas G. Wolfe Oklahoma Top Attorney Commercial Litigation

Thomas G. Wolfe, Director
405.552.2401
tgwolfe@phillipsmurrah.com


Oklahoma Top Attorney for Health Care Law:

Mary Holloway Richard Oklahoma Top Attorney Health Care Law

Mary Holloway Richard, Of Counsel
405.552.2403
mhrichard@phillipsmurrah.com


Oklahoma Top Attorney for Intellectual Property Rights:

Martin G. Ozinga Oklahoma Top Attorney Intellectual Property Rights

Martin G. Ozinga, Of Counsel
405.606.4721
mgozinga@phillipsmurrah.com


Oklahoma Top Attorney for Labor and Employment:

Byrona J. Maule Oklahoma Top Attorney Labor and Employment

Byrona J. Maule, Director
405.552.2453
bjmaule@phillipsmurrah.com


Oklahoma Top Attorney for Land Use – Environment:

Jim A. Roth Oklahoma Top Attorney Land Use Environment

Jim A. Roth, Director
405.552.2417
jaroth@phillipsmurrah.com


Oklahoma Top Attorney for Medical Malpractice Defense:

G. Calvin Sharpe Oklahoma Top Attorney Medical Malpractice Defense

G. Calvin Sharpe, Director
405.552.2413
gcsharpe@phillipsmurrah.com


Oklahoma Top Attorney for Oil and Gas:

Elizabeth K Brown Oklahoma Top Attorney Oil and Gas

Elizabeth K. Brown, Director
405.552.2423
ekbrown@phillipsmurrah.com


Oklahoma Top Attorney for Real Estate:

Sally A. Hasenfratz Oklahoma Top Attorney Real Estate

Sally A. Hasenfratz, Director
405.552.2431
sahasenfratz@phillipsmurrah.com


Oklahoma Top Attorney for Tax Law:

Robert O. O'Bannon Oklahoma Top Attorney Business Law

Robert O. O’Bannon, Director
405.552.2483
roobannon@phillipsmurrah.com

 

Dawn M. Rahme Oklahoma Top Attorney Tax Law

Dawn M. Rahme, Director
405.606.4770
dmrahme@phillipsmurrah.com

 

View the full list of attorneys here:

Phillips Murrah announces 37 attorneys named to 2018 Best Lawyers list

Phillips Murrah is proud to announce that 37 of our attorneys have been named to The Best Lawyers in America© 2018 list in Oklahoma City.

The Best Lawyers in America 2018

Jennifer Ivester Berry – Commercial Transactions / UCC Law; Real Estate Law

Douglas A. Branch – Securities / Capital Markets Law; Venture Capital Law

Elizabeth K. Brown – Litigation – Trusts and Estates; Litigation and Controversy – Tax; Tax Law; Trusts and Estates

Michael D. Carter – Workers’ Compensation Law – Employers

Rodney L. Cook – Insurance Law

Bobby Dolatabadi – Corporate Law; Mergers and Acquisitions Law

Jason A. Dunn – Commercial Litigation

Joshua L. Edwards – Real Estate Law

Marc Edwards – Administrative / Regulatory Law; Commercial Litigation; Government Relations Practice

Nicholle Jones Edwards – Family Law

Shannon K. Emmons – Commercial Litigation; Employment Law – Management; Employment Law – Individuals

Juston R. Givens – Commercial Litigation

Sally A. Hasenfratz – Commercial Transactions / UCC Law; Construction Law; Land Use and Zoning Law; Real Estate Law

Terry L. Hawkins – Public Finance Law

Heather L. Hintz – Commercial Litigation

Timothy D. Kline – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law; Commercial Transactions / UCC Law; Litigation – Bankruptcy

Fred A. Leibrock – Commercial Litigation; Insurance Law; Litigation – Antitrust; Litigation – ERISA; Litigation – Real Estate

Candace Williams Lisle – Commercial Litigation

Mark Lovelace – Banking and Finance Law; Business Organizations (including LLCs and Partnerships); Commercial Transactions / UCC Law

Melvin R. McVay, Jr. – Banking and Finance Law; Commercial Litigation; Litigation – Banking and Finance; Litigation – Bankruptcy; Litigation – Real Estate

Andrew S. Mildren – Administrative / Regulatory Law; Government Relations Practice

Jennifer L. Miller – Commercial Litigation

Cindy H. Murray – Real Estate Law

Robert O. O’Bannon – Business Organizations (including LLCs and Partnerships); Tax Law

Martin G. Ozinga – Commercial Litigation

Donald A. Pape – Banking and Finance Law

Michael R. Perri – Commercial Litigation; Energy Law; Natural Resources Law; Oil and Gas Law

William S. Price – Government Relations Practice

Dawn M. Rahme – Commercial Transactions / UCC Law; Litigation and Controversy – Tax; Tax Law; Trusts and Estates

Mary Holloway Richard – Health Care Law

Jim A. Roth – Energy Law; Energy Regulatory Law; Environmental Law; Government Relations Practice; Natural Resources Law

G. Calvin Sharpe – Medical Malpractice Law – Defendants; Personal Injury Litigation – Defendants

Robert N. Sheets – Commercial Litigation; Litigation – Land Use and Zoning; Litigation – Real Estate

Ellen K. Spiropoulos – Corporate Law

Lyndon W. Whitmire – Commercial Litigation; Product Liability Litigation – Defendants

Thomas G. Wolfe – Bet-the-Company Litigation; Commercial Litigation; Mass Tort Litigation / Class Actions – Defendants; Product Liability Litigation – Defendants

Raymond E. Zschiesche – Commercial Litigation; Mass Tort Litigation / Class Actions – Defendants; Product Liability Litigation – Defendants

In consideration of a living inheritance

Gavel to Gavel appears in The Journal Record. This column was originally published in The Journal Record on July 13, 2017.


Robert O’Bannon is a Director and member of the Firm’s Tax, Trusts and Estate Planning, Energy and Natural Resources, and Corporate Law Practice Groups. He represents individuals and both privately held and public companies in a wide range of transactional matters.

By Phillips Murrah Director Robert O. O’Bannon

When parents are in the financial position to give money or assets to their adult children, there are benefits for the donor and the child.

Rather than a parent holding on to wealth until after death, gifting allows them to share it with heirs when they likely need it most. At the same time, this decision can reduce the tax liability on an estate transfer at death.

The beneficiaries of such gifting are generally in their 40s and typically experiencing their most financially challenging decade. They often have children of their own who are in high school or entering college. Other financial obligations typically include a hefty home mortgage, medical costs associated with middle age and the challenges associated with their own inevitable retirement.

For wealthy, retirement-aged people, it is easy to acknowledge that their adult children and vicariously, their grandchildren, will likely benefit more from gifting at this stage of life rather than waiting until the event of death, at which point the adult children are generally more self-sufficient.

For those transferring wealth to the next generation, holding on to a larger estate flies in the face of limiting the tax liability. For example, upon death in 2017, estates worth more than $5,490,000 are taxed at 40 percent (for married couples, $10.98 million).

Gifting, or transferring either money or assets to someone else without receiving something of equal value in return, is available in various forms, including pre-loading college 529 accounts. Additionally, paying for medical, dental and tuition expenses do not count toward gifting limits as long as the provider is paid directly.

An individual may transfer assets to anyone free of gift tax in the amount of $14,000 per year. In this case, a married couple may gift up to $28,000 per individual. For a couple with two married children and four grandchildren, that would total $224,000.

There are numerous exceptions to the general rules of gift and estate taxation, which can be easily explained by your tax and/or estate planning attorney.

Robert O’Bannon is a director at Phillips Murrah and member of the firm’s Tax, Trusts and Estate Planning, Energy and Natural Resources, and Corporate Law Practice Groups.

2015 tax extenders – a PATH forward

Gavel to Gavel appears in The Journal Record. This column was originally published in The Journal Record on Jan. 7, 2016.


Robert O. O’Bannon is a Director who represents business clients in a variety of transactional matters with an emphasis on taxation and wealth planning issues for both businesses and individuals.

By Phillips Murrah Director Robert O. O’Bannon

On Dec. 18, President Obama signed into law a package of tax extenders called “The Protecting Americans from Tax Hikes Act of 2015,” or PATH.

Tax extenders are nothing new. Historically, as tax provisions expire, extenders are put forward to temporarily keep them active. This helped extend the provisions, but it did nothing to develop the kind of certainty that many in the business community want when planning for the future. The real breakthrough for PATH is that some of the tax extenders are made permanent, including those that benefit individuals as well as businesses.

For example, for businesses, there are enhancements and permanent extensions to the Research and Development Tax Credit; the Code Sec. 179 expensing limitation of $500,000, and the $2 million phase-out limit, are retroactively and permanently extended, and both are indexed for inflation for tax years beginning this year; and Bonus Depreciation, which allows retailers and restaurants to initially depreciate half of remodeling and improvement fees. For individuals, the Child Tax Credit, American Opportunity Tax Credit and the Earned Income Tax Credit are all strengthened and made permanent.

Another breakthrough for the PATH Act is in the bipartisanship it achieved. Republicans achieved supply-side expansion that favors business and growth and Democrats enhanced and made permanent tax laws that more directly favor individuals. On both sides of the aisle, PATH turned out to be a nice Christmas present.

Moving forward into 2016, here are some other items to keep in mind about the PATH Act:

  • A deduction for state and local general sales tax in lieu of state income tax is retroactively extended and made permanent.
  • Individuals at least 70 1/2 years of age may now exclude from gross income qualified charitable distributions from IRAs of up to $100,000 per year.
  • The New Markets tax credit is extended through 2019 and the carryover period for unused new markets tax credits is extended for an additional five years, to 2024.
  • The tax credit for new, energy-efficient homes built by a contractor and acquired for a residence in the tax year is retroactively extended for two years to 2017.