After reviewing many of the posts regarding mineral rights inheritance in Louisiana, I could not find a reply to one poster's question on the value of forming family LLCs to hold mineral rights. Evidently, many LA attorney's recommend them but I have yet to see anyone list compelling reasons for relatively small mineral rights owners to go to the expense to form one.
In my case, I collect relatively small royalties from some 40 wells scattered on many small lots spread throughout several parishes and being paid out by 4 different producers. If I simply leave my estate to my two kids, I can imagine a logistical nightmare, and expense, when I pass(I'm single) and my 2 kids (or their attorney) have to sort out dividing these royalties in half. Is this a situation where a family partnership or LLC would simplify things by consolidating all royalty payments to one entity? I'm sure the producers would prefer this instead of having to issue new division orders times 2! thanks for any insights.
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