How does one go about adding mineral rights into a Will? What is considered to be inheritable? Is this an appropriate question for this forum? I do not own much, minimal, but should I die, I would want even the smallest amounts to go to my beneficiary. Or am I wrong to do that, would it cause more trouble to the beneficiary than the mineral rights are worth? I own 0.008 net acres in Tyler County, WV.
Hi, WV considers minerals to be “real property” which is the same as if you owned a house or regular farm land. It is absolutely inheritable and should be mentioned directly in your will and appraisement records of your estate. If you don’t mention it or don’t have a will there are intestate laws of succession which decide how it gets inherited.
As far as is it worth it for your heirs? Thats personal preference. Do you think they want to inherit a property that will produce $20 per month for an unknown amount of time before puttering out and paying taxes on it forever? Is there a chance for larger amounts of money? Separate this from the emotional attachment of it being an inheritance and decide if its worth it from a financial standpoint. It may be worth selling and using the money towards other expenses or other assets with different returns.
We can’t say definitely what is best for you, but at 0.008 mineral acres, that certainly isn’t a gold mine that will make them rich. Maybe ask them what they want to do with it?