Mineral Rights Podcast: Estate Planning and Mineral Rights

I recently had the pleasure of joining the Mineral Rights Podcast, hosted by Matt Sands, to discuss how important proper estate planning is for mineral owners. If you are a mineral owner, this episode can help answer many of your questions about how to plan for and manage your mineral rights. You can listen to the episode by clicking on the link: MRP 67: Estate Planning and Mineral Rights

Some of the key concepts we discussed in the episode include:

  • Knowing what you own – one of the most difficult questions for mineral owners is often “What do you own?” Mineral owners need to understand what minerals they own, how they came to own those minerals (inheritance, purchase, gift, etc.), and what the status of those minerals is (leased, producing, non-producing, etc.).
  • Estate planning is critical for mineral owners – mineral rights are considered real property and must be transferred through a deed. Failing to plan properly for mineral rights can mean tens of thousands of dollars in legal expenses and probate proceedings in multiple states.
  • Trusts and Limited Liability Companies (LLCs) are a mineral owner’s friend – these entities allow the mineral owner to manage the mineral rights as needed during their lifetime, and then ensure that the proceeds from the minerals are used in accordance with their wishes after they are gone. These entities also avoid the need for probate proceedings and can save mineral owners thousands.

Kinney Law Office has specialized experience working with mineral owners to protect their minerals and ensure they are properly managed in their estate plan. Call us today to learn more about how we can help you manage your minerals and build a legacy that will support your loved ones long into the future.

Getting Your Estate Plan Done is Easier than You Think

Our estate planning process begins with a free Estate Strategy Session Consultation. The consultation will answer your questions and qualify you for our complementary Estate Strategy Session. Before the Session, you will complete an online, guided interview that will help you collect the information we need. We make the process fast, easy and secure.

During the Session, your attorney will guide you through what would happen to the people you love and your wealth should anything happen to you. Then we will create a plan together to make sure everything goes the way you want. You can control your future and do things today that will help your family during one of their most emotional and difficult moments. They will always know how much you cared about them and will be relieved of many of the difficult choices they would have otherwise been forced to make.

At Kinney Law Office, we see the signing of your estate planning documents as just the beginning of our relationship with your family. As your situation changes, your estate plan should change too. Call or click to see if you qualify for a complementary Estate Strategy Session today!

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