I am a resident of Oregon, and own mineral rights in Borden and Howard Counties in Texas. I wish to transfer these rights to a trust. Is there a Texas licensed attorney that can be recommended to help me with this?
G. Wade Caldwell is an advertiser here. Search on Wade Caldwell and you will see quite a few positive reviews and recommendations on this forum. Disclaimer: I’m an associate of Mr. Caldwell in NARO, the National Association of Royalty Owners.
If you have an existing trust, then this will be relatively simple with a deed. If you do not have a trust, then you need to consider all of the implications of forming a new trust in relation to your estate planning. Keep in mind that some state tax laws vary with respect to trusts which have resident trustees and/or beneficiaries regardless as to the state where the trust is set. You may want to establish the trust with a Texas situs so that Texas income is only subject to federal tax and not to any state tax, if the income is being retained by the trust rather than distributed. Be sure that you learn about Oregon tax laws in this process.
If you already have the trust set up, it’s just a simple deed. You don’t need a lawyer for it. You can create it yourself using a template, print, sign and file.