I have some land and mineral rights in South Texas and receive some monthly royalty payments. I have five children and would like to set up my estate so they can equally share any royalties after I die. Should I set up a trust? How about taxes? Also, How are the mineral rights valued?
Hard to say what structure is best without more information. For estate tax purposes, the IRS will accept a valuation of 3X annual royalties on producing minerals. Non-producing gets trickier.