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Permalink Reply by Spring Branch,mineral owner on June 26, 2010 at 3:03

To avoid a challenge from the IRS of the estate tax return, you have them professionally appraised by a petroleum engineering firm that does estate valuations for minerals. Obviously if we're talking about just a few mineral acres, you may be able to avoid this.

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Permalink Reply by SL on June 26, 2010 at 3:09

Thanks for your quick response. We are talking approximately 900 acres. I am very concerned what this is going to do for the value.

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Permalink Reply by jr on June 26, 2010 at 7:16

ANYONE WITH AN ESTATE SHOULD LOOK AT SOME LONG TERM ESTATE PLANNING!! NEW YORK LIFE AND SEVERAL OTHER LARGE INSURANCE COMPANIES THAT ARE NOT TRADED ON THE STOCK MARKET OFFERS ESTATE WHOLE LIFE INSURANCE. THESE POLICIES BUILD CASH VALUE AND THE PROCEEDS CAN BE TAKEN OUT AS YOU LIVE OR LEFT FOR HEIRS TO PAY THE ENORMOUS TAXES ON AN ESTATE. TALK TO AN ATTORNEY ABOUT THE TAX BURDEN THAT WILL BE ON YOUR ESTATE HEIRS PAY TAXES ON EIGHT YEARS WORTH OF ROYALTY AT 38-40%.

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