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July 2016 Archives

Do you need to estate plan when young?

Our answer to "do you need an estate plan" is always yes, though obviously the complexity of your plan depends a lot on your current life situation. Someone who has several minor children has very different concerns than someone with adult children and grandchildren might have. And someone who is young and single has yet another set of concerns, but that doesn't mean estate planning isn't a good idea.

How should you face a request for minerals on your land?

If you're a landowner, whether you're a business or a personal owner of the property, you might one day be approached by an organization that wants to search under your land for minerals or oil. On the surface, it might sound like a great idea. If they find something, you're going to get part of the profits, right? The answer depends.

Help fighting your real estate battles

Last week, we talked about a specific issue that can arise when you are dealing with real estate: eminent domain. Unfortunately, this is only one of many obstacles or decisions you might face when dealing with real estate transactions or development. When you enter into the world of real estate, it's a good idea to equip yourself with the right tools for success. One tool that can be valuable is the assistance of a professional third party who is experienced in real estate law.

Understanding eminent domain basics

The governments -- federal, state and local -- have some rights regarding public land. Specifically, governments have the right to take land from a private citizen or business if that land is required for public use. This power is called eminent domain. Various laws govern how eminent domain can be implemented in certain situations, but most do require that the government make "just compensation" for the property to the property owner.

Understand your oil and gas rights

Is your land sitting over an oil or gas deposit? It may be that you have recently had a prospector approach you over acquiring oil or gas rights over sections of your property. You may just be wondering how to approach the negotiations that are entailed in the transfer of these rights.

Judge in Prince case wants solid foundation for vetting heirs

When Prince passed away earlier this year, much of the world paused. He was an iconic musician whose work influenced people of broad age ranges and backgrounds. Unfortunately, the pop icon's name hasn't been allowed to rest in peace due in part to the fact that he left no known will behind. His estate has been in the news since his death as potential heirs scramble to make claims and the courts and trustees attempt to live up to their duties.

What does the executor of an estate do?

After the death of a loved one, the process of winding up their estate is an eventuality that cannot be avoided. This task will fall upon an executor of the deceased's last will and testament. Usually, this onus falls upon a close family member who may be a spouse, child or immediate relative.

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