Oil and Gas Valuations
It’s always surprising for us to see how our major practice areas come to overlap. Oil and gas law doesn’t have an obvious nexus with estate planning and the probate process. However, given that estate planning typically involves carefully allocating assets to maximize their utility for family or friends, it shouldn’t be a surprise that valuable oil and gas rights might...Read More
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Minimizing Tax Impact of Oil and Gas Royalties
The impact oil and gas leasing has had on Ohio is remarkable. A farmer who struggled to make ends meet one year could find himself with an income tax bill he never imagined the next. Though we Ohioans have been blessed by these essential resources, allocating their value can be troublesome from a financial standpoint. Many people may find themselves unsure of what to do with signing bonus...Read More
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Do I Need a Trust?
Estate planning relates to the arrangement of your affairs so that upon your passing your assets will pass to those whom you wish to benefit, while being subjected to the least amount of taxes and transfer costs. Often, too, it speaks of setting things up so that your assets can be professionally managed for the benefit of less sophisticated loved ones when you are gone. A trust is a popular...Read More
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Frequently Asked Probate Questions
What is the probate court? The probate court oversees the administration of a person’s estate. When a person dies, and after creditors and taxes have been paid, the deceased person’s property must be passed on to heirs. If the person had a properly drafted will, determining where the property goes is fairly straightforward: it will be described in the will. The probate court has...Read More
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Basic Estate Planning Principles
Estate planning relates to the arrangement of your affairs so that at the time of your death your assets will pass to those whom you wish to benefit, while being subjected to the least amount of taxes and transfer costs. Often, too, it speaks of setting things up so that your assets can be professionally managed for the benefit of less sophisticated loved ones when you are gone. Unfortunately,...Read More
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