Not an attorney, but giving my two cents worth. We have an LLC and that has been quite useful. Our attorney also recommended that we put our working interest in a separate LLC to protect from any liability to the other interests. I have actually heard that multiple times at NARO. We just discovered it, so will fix that potential risk. The LLC does not take out Social Security as far as I know. The proceeds are distributed to the members on a regular schedule and they have a K-1 for their taxes. The mineral titles stay with the LLC and as generations pass, it simplifies the estate issues. Other families do a trust.
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