We just received division orders as a result of probate from Casillas and it appears that the funds have been building up for some time. My attorney has advised me to write a letter to them requesting them pay 12% interest on the funds.
Any advice on who in particular to send to and what info to include?
Thanks.
Doesn’t sound like you had marketable title until after conclusion of the probate so less than 12%, closer to 5%. Send to attention of the Division Order Dept, certified w/return receipt.
This well has been in production for 3 years and Casillas made no contact requesting W9 from my mother. So the other question is: shouldn’t her estate get the payments and bear the tax burden? Instead of me?
Jim- is/was your mother’s correct contact information of record at the county clerk’s office? Did you notify Casillas of your mother’s death? Generally, the income belongs to the estate until that is settled but many variables like trusts, wills, etc. consult your accountant for that information.
Your attorney should be able to draft a letter. If the funds are significant you shouldn’t mind paying him/her for that service.
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