I live in Arizona and own mineral rights in Oklahoma, New Mexico and Texas. I have composed and signed a handwritten holographic will - no witnesses - leaving all of my assets to my heirs including my mineral rights in the states listed above. I know that a handwritten holographic will is legal in the state of Arizona. Is my handwritten holographic will legal in Oklahoma, New Mexico and Texas for transferring my mineral rights to my heirs who reside in Arizona and California?
Agreed that probate will still be required, PLUS holographic wills are not acceptable in New Mexico. Most of those who are planning to pass their mineral rights to the next generation will elect to convey their interest to an LLC or trust, although there are many more options too. If you use a trust, there is no state filing or renewal fee in most states, but it can be costly to hire an attorney to prepare it and you will have to deed the interest to the trust. However, they afford great flexibility as you can name the beneficiaries (and when they receive the interest), change the beneficiaries, and create many other terms. And you will avoid probate if done properly.
Thank you Todd and MaxRoyalty. I’m fully aware of the probate process, I was just trying to find out if my holographic will is legal in OK, NM and TX. Thank you for confirming that it’s not acceptable in New Mexico. I will have to develop an alternative.