When planning an estate, most people focus on homes, land, bank accounts, and personal property. Mineral rights are often assumed to fall neatly into that same category. In reality, mineral rights and surface rights are legally distinct assets, and treating them as interchangeable can create confusion and unintended consequences for heirs. Understanding the difference between…
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Mineral rights can represent a meaningful source of long-term income and generational wealth. Yet they are also among the most misunderstood assets a family can own. Many costly issues arise not from poor decisions, but from uncertainty around how mineral interests function, how they are valued, and how they should be managed over time. At…
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Why avoid probate? Well, it’s long, it’s costly, and mineral and royalty estates can add some additional challenges, especially if the properties are located in a different state than where the decedent was domiciled. Probate is typically administered where the decedent established their home. The estate is subject to the requirements of that particular jurisdiction.…
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I’m often asked my opinion about anything energy-related. Where are oil prices headed? What about the natural gas glut? How about corn, solar and wind? And the list goes on … The truth is that these are interesting times. Technology has and will continue to give us new oil and gas resources as we get…
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At Legacy Royalties, the process typically goes like this … An oil and gas mineral owner calls or emails and expresses a desire to sell. If the owner is receiving oil royalty checks, we ask for copies of the last 3 check stubs (the attachment to the check listing well names, county, state, oil and…
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Royalty income from an oil and gas lease will be paid so long as a product is produced from the lease. Royalties are a proportionate part of the revenue received from the sale of oil, gas or other materials from a well or lease and paid to the royalty owners based on a lease agreement…
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An article produced by the Dallas Morning News highlights the effect lower oil and gas prices are having on mineral and royalty owners. The piece also tackles some misconceptions about royalty owners with insight from Jerry Simmons, executive director of the National Association of Royalty Owners. Read the article here: http://www.dallasnews.com/business/energy/20150911-as-oil-and-gas-prices-shrivel-texans-royalties-are-drying-up-too.ece
