Many people mistakenly believe that they need to have a lot of money to benefit from a trust. This couldn’t be further from the truth. In fact, many benefits trusts provide don’t have anything to do with how much money someone has. Trusts just make managing assets simpler, and operate a little differently than wills: the probate court ensures that an individual’s will is...Read More
We have been quite busy since our last update. Most -if not all- of the most valuable lands have already been leased, and energy companies have essentially staked out their positions. An incredible 169 wells are currently producing from the Utica shale in eastern Ohio. Chesapeake Energy is far and away the biggest producer in the region, as they operate 114 of these 169 wells. The...Read More
Clients with disabilities or other special needs have a few options when it comes to creating trusts that can improve their life. Oftentimes these individuals receive governmental benefits for their health and maintenance. Typically, these programs first require that the individual spend their own money before expending any of the government’s. In these situations, individuals with...Read More
One of the questions we’ve been getting a lot of recently is: “how are my oil and gas royalties calculated?” There are actually a few different ways to answer this question. The first angle has to do with how a royalty is calculated as part of a drilling unit. Let’s say that you own 50 acres in a 100 acre drilling unit. Your lease probably says you are to earn 1/8...Read More
Lately we have spoken with a number of clients about mortgage subordination. Drillers typically ask the landowner’s bank to subordinate their interest in the land (the mortgage) to the driller’s interest (the oil and gas lease). The driller, of course, was concerned that they would lose their interest in the land if the bank foreclosed on the property. If the bank’s...Read More
Nearly all of our oil and gas clients ask us “what are my oil and gas rights worth?” Having been a producer in the oil and gas industry for over 25 years, I am well attuned to the business side of the industry. Having practiced oil and gas law for over 25 years, I am also well versed in the legal side. This positions our firm nicely to handle a wide variety of our client’s...Read More
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