ESTATE PLANNING

ANYONE WITH AN ESTATE IN THE HAYNESVILLE SHALE SHOULD LOOK AT AN ESTATE PLAN. THE FEDERAL GOVERNMENT WILL TAX AN AVERAGE OF EIGHT YEARS WORTH OF ROYALTY THAT YOUR HEIRS WILL HAVE TO PAY SOME WILL HAVE TO SELL THE LAND TO DO SO!! WHAT WE ARE LOOKING AT IS A WHOLE LIFE INSURANCE PLAN WITH NEW YORK LIFE THAT PAYS A DEATH BENEFIT TO THE ESTATE WHEN BOTH SPOUSE(S) ARE DECEASED AND BUILDS CASH VALUE THAT CAN BE TAKEN OUT AS YOU LIVE OR BE LEFT FOR YOUR HEIRS. I HAVE READ A LOT ABOUT NEW YORK LIFE AND IT IS A STABLE STRONG CO THAT IS NOT TRADED ON THE STOCK MARKET, IT IS OWNED BY THE POLICY HOLDERS.

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Permalink Reply by Mac Davis on June 26, 2010 at 9:15



NO NEED TO SHOUT!!!!
Permalink Reply by Shaleeee on June 26, 2010 at 15:45
Jr, thanks for the info - it is worth looking into.
Permalink Reply by layla on June 28, 2010 at 4:47
Anyone who has any more than a few acres within the Haynesville/Bossier shale areas should consult an estate attorney or at the very least a CPA who is familiar with estate planning. This property has potential to become worth a great deal and will be taxed accordingly when the owner passes away. There are ways to establish family trusts, LLCs, etc., which will help to protect one's heirs against owing up to 80% or so of the value of the estate (depending on total value exceeding about $3,000,000) to Uncle Sam for inheritance taxes. PLEASE consult a professional (and I don't mean just someone who wants to sell you something in the process) with any estate planning issues. The development of these resources and how they are handled can make a significant difference in not just how you live but how several generations of your family live when handled properly. It is well worth the cost of an tax/estate attorney or similar professional.
Permalink Reply by P.G. on June 28, 2010 at 5:01
So when are our property taxes going to be based on the values of the potential minerals that are under them?

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