# Life Estate deeds
**URL:** https://www.mineralrightsforum.com/t/life-estate-deeds/73172
**Category:** Ownership and Title
**Created:** [November 27, 2023, 6:22pm UTC](https://www.mineralrightsforum.com/t/life-estate-deeds/73172 "2023-11-27T18:22:06Z")
**Posts on this page:** 7
**Page:** 2
### Author:  [@Bob77](https://www.mineralrightsforum.com/u/Bob77)
#### Post date: [December 1, 2023, 10:29pm UTC](https://www.mineralrightsforum.com/t/life-estate-deeds/73172/21 "2023-12-01T22:29:24Z")
‘In my instance the Life Estate and Remainders were not on speaking terms.’
Thankfully, my 2 kids have me on a group text that annoys me every day. I say annoy jokingly as I do love the interaction, videos/pics of grandkids, and the funny videos they send. My wife passed away a few years ago. I have a trust set up for my kids in case I pass sooner than expected, but at some point I’ll “gift them” my savings/stocks, etc., along with the transfer of life deed thanks to the info I got on here that I spent a few hours looking into. The whole point is to avoid probate court, and thanks for all the help!
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### Author:  [@lkweis](https://www.mineralrightsforum.com/u/lkweis)
#### Post date: [December 3, 2023, 3:54pm UTC](https://www.mineralrightsforum.com/t/life-estate-deeds/73172/22 "2023-12-03T15:54:57Z")
Can one set up a mineral trust that would go first to husband then to children after his death in Texas to prevent probate? I live in Virginia but have minerals in Texas. Have a sibling that set up something called a deed of gift to her children (no husband) with her passing to prevent probate. Thanks for any info on this subject.
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### Author:  [@Mineral\_Owner5](https://www.mineralrightsforum.com/u/Mineral_Owner5)
#### Post date: [December 3, 2023, 4:45pm UTC](https://www.mineralrightsforum.com/t/life-estate-deeds/73172/23 "2023-12-03T16:45:17Z")
It might be a good idea to set up a “Revocable” Living Trust. Then you can revoke it or change it in the future. If remainders are required to sign then you might as well just give it to them! If the remainders are involved in lawsuits, divorces and all that type of stuff it can really mess things up.
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### Author:  [@TennisDaze](https://www.mineralrightsforum.com/u/TennisDaze)
#### Post date: [December 4, 2023, 2:17pm UTC](https://www.mineralrightsforum.com/t/life-estate-deeds/73172/24 "2023-12-04T14:17:22Z")
You need to consult your attorney for estate planning as to the best way to carry out your intentions and any resulting tax consequences. Will your husband be the trustee or your children or an independent party such as a bank? Will the trustee have power to sell the minerals with or without consent of the children? Will the trust have other assets? The trust needs to provide for power of leasing the minerals. If there is an independent trustee such as a bank, then that will entail fees and you must be sure that the bank has experience in oil and gas area as it can be complicated. This could be a problem in Virginia. What are ages of your husband and children? Are they all responsible adults or are there other issues? Will the children have the right to review the tax returns and income data during the term of the trust? Who will save all the related documents, bank data, etc. to be sure that it is turned over to the children at the termination of the trust? There is no one answer as it depends on all the facts and circumstances.
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### Author:  [@Mineral\_Owner5](https://www.mineralrightsforum.com/u/Mineral_Owner5)
#### Post date: [December 4, 2023, 2:17pm UTC](https://www.mineralrightsforum.com/t/life-estate-deeds/73172/25 "2023-12-04T14:17:47Z")
Great post, I live in Texas and I have a Revocable Living Trust. The word REVOCABLE is important. This avoids probate and does not require a will as the Federal and Texas State Laws are at this time. I had this done by a law firm that specializes in these types of estate documents. All of my mineral rights are separate from any surface real estate ownership. I have a son who has the Power of Attorney if something happens to me. As long as I am legally competent then I remain in control. No one else is required to sign any document. No oil or gas company can force me to show them the documents. They better not try to either. I’ve leased many tracts in the past and had no trouble about that.
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### Author:  [@Richard\_Winblad](https://www.mineralrightsforum.com/u/Richard_Winblad)
#### Post date: [December 12, 2023, 7:22pm UTC](https://www.mineralrightsforum.com/t/life-estate-deeds/73172/26 "2023-12-12T19:22:53Z")
This is a great place to gain knowledge and to learn what questions to ask an estate planning attorney. Too often I see plans that failed because:
1. It was a DIY failure (I could write a book); or
2. The estate planning attorney was unfamiliar with how to fund minerals into the trust or plan
_ **This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.** _
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [February 25, 2024, 6:22pm UTC](https://www.mineralrightsforum.com/t/life-estate-deeds/73172/27 "2024-02-25T18:22:18Z")
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