Replies to This Discussion

Permalink Reply by Snake Stewart on August 3, 2008 at 13:39

Is this the same gentleman that is working South Bossier and Webster for PetroHawk out at Wilson's Bistineau Inn ? The one were everybody in the group will sign a completely different lease ?

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Permalink Reply by smith1 on August 4, 2008 at 3:02

csc: not sure I know what you are talking about or if to me, even. Still unsure how this message reply works. Can you elaborate a little for me? Thanks so much.

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Permalink Reply by Snake Stewart on August 4, 2008 at 16:01

Hello csc , You left a comment about Mr. Steve Roberts and his free initial consultation/advice .That post no longer exists I guess because I can't find it anywhere on this blog. I in turn asked if this was the same Steve Roberts that was doing a deal with Petrohawk were everyone would be signing a different lease. The meeting was held at Wilsons Inn a couple of Tuesday's ago. Just curious how you and yours turned out so great with Mr. Roberts and the people in South Webster seem to be getting something not so great from the ordeal.Says he has been hearing $4000 to $5000 offers yet he is said to have signed for $25,000. Would you have been involved with his group at $25,000 or a different venture altogether. If you are at liberty please let us know! If this isn't the same person I am sorry. If it is ......

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Permalink Reply by Bacon on August 3, 2008 at 13:56

Sounds like Steve might want to consider advertising on this site. : )

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Permalink Reply by Snake Stewart on August 3, 2008 at 14:04

He may not be happy about that free consultation thing either !

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Permalink Reply by smith1 on August 4, 2008 at 3:00

He & Me A1: Didn't know if previous one was sent, but we used attorney here in town to view our lease, my husband did extensive research & had basically the lease we wanted already done....certain clauses, etc. to add. The attorney has been very knowledgeable in advising us. We should be signing this afternoon or Tuesday.

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Permalink Reply by Bobi Carr ("parker") on August 4, 2008 at 8:30

Could you post who the attorney was?

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Permalink Reply by smith1 on August 4, 2008 at 3:03

Rest assured I asked him prior to this. But thanks.

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Permalink Reply by smith1 on August 4, 2008 at 3:04

So, like how do we know where your land is?

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Permalink Reply by smith1 on August 4, 2008 at 7:55

we just saw our CPA & financial advisor, Steve Roberts on Olive Street, Shreveport, LA and he was VERY helpful & informative on what to do with our lease bonus money, taxes, future royalties, etc. Might want to give him a call.

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Permalink Reply by VSC DeSoto South on November 6, 2008 at 4:47

Why do you need a LLC to give the 25% or whatever percent interest you choose to the kids?
Why can't you give them their interests through a trust?
I think I know the answer, but someone please confirm: because the trust division of ownership only occurs at your death which means you still own it while alive thus are responsible for all the taxes. The LLC gives them the ownership now, leaving you only responsible for your interest. 3 kids at 75% each leaves only responsible for taxes on 25%, they are on their own or if you pay them for them their tax rate is less because in theory they either have no income or much less than yours.
Did I answer my own question?

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