Hello! Found this forum and hoping you all can help point me in the right direction.
My mother passed away and she was a beneficiary of a trust that included surface and mineral rights to land in southern Louisiana (Terrebonne Parish, Lafourche Parish, etc.) Land has been passed down and divided over many generations. I recall my mother getting a substantial income in the ‘80s from oil and gas off this land, but ultimately that stopped. The trust docs dictated that upon my mother’s death, her portion of these rights goes to me (not in trust, deeded directly to me).
I am located in NC with little knowledge about the land, potential income, liabilities, etc. The attorney who handled my mother’s estate has no experience with surface and mineral rights and I’ve had difficulty finding anyone to help me. Trust officers have advised I should put assets in an LLC to protect myself.
Looking for:
Attorney recos who can assist me with this process
Advise on how to own these assets (LLC, trust, etc.)
Expectations around potential future income given they don’t seem to be producing much income now
Thank you!!