Types of ownership

I need to get settled in my Trust who will inherit the Mineral rights in Colorado that are currently in my name as sole and separate property. I need suggestions as to how title could be held and the advantage of it.

I have been thinking that I want it equalily divided between the 5 adult children, but that seems to shrink the percentage of the holdings quite a bit for each individual if the holdings are separate. Maybe there is some other types of ownership.

What suggestions would someone have? Is there any way the mineral rights could be passed on to all 5 as a group, a partnership, or something like that? Maybe there are other ideas out there.

Thank you very much for your help.

Lois

Lois,

Much depends on the size and potential of your minerals. I have one client in CO that put his minerals into a trust for his children while they had little taxable value and another client (3 siblings) who put lots of producing and non producing properties into an LLC so they could take distributions individually from future production. Whatever you do, try to keep the minerals together to conserve future value. I can give you a lawfirm in Portland and another in Denver that know minerals as well as estates.