Started a Will from online Freewill but remembered after filling out and printing forms that my Mineral Rights have always used my maiden name, which could have presented a problem as this company required a Notary. My drivers license does not include my maiden name so was concerned the forms could not be notarized. Went back online to add AKA so that there will be no question on two names and the AKA name was not generated on all forms which turned out to be many pages to this Will, at least 40. I then thought maybe changing my SC drivers license and adding my maiden name and was told I had to go through SS first. I started trying to think of another way then heard about Trusts. I do not have a lot to leave (no home) a paid off car and jewelry and other personal items to my 3 adult children, 11 grandchildren and 1 great child, so it is important to me that all this is down legally correct with the Mineral Rights. Any suggestions on Trusts ? I also researched and found out in SC you do not have to have Wills/Trusts notarized so it was just the particular company requesting that, yet it suggests with Trusts you do..so now I am confused. Any suggestions is welcomed. Seems to me having a Trust may be the better way.
I am not an attorney but have had a trust for many years as did my father-in-law. Trusts are private information and are not contestable in court. Whatever conditions you put in the trust are the final so there will be no arguments among the recipients. So if you say your stuff is split 3 ways then 3 ways it is. If you want to leave specific pieces of jewelry to specific people that can be done as well. Always consult with an attorney on the mineral rights because each state has their own rules as how the mineral rights are handled.
It is commendable that you want to plan for the future. Minerals are real property and title can only pass as required under real property Texas statutes. If you do a will, it will need to be probated in your state of residence and then the certified probate filed in Texas deed records. If you do a trust, it will need to provide for the trustee to have the powers to administer the minerals, including executing leases, among other things. You will need to filed appropriate documentation in the Texas records regarding transfer of title to the trust and the trustee. Those filings will need to be notarized. Are the minerals producing and providing needed income? You can file a deed assigning the minerals to your children immediately or file a newer form as a deed on death. The deeds need to be drafted properly and notarized. The notary process helps ensure that the documents are real and valid and signed by the mineral owner. You will need to include the legal description of the minerals. You should never simply rely on AI and forms you find on the internet.
I appreciate the advice and seems more complicated than it should be. Our family has quite a few oil rights all in Texas, and have gotten many leases since 2023, so there could be activity soon. My question is since I live in SC am I going to have to get a hold of Texas and possibly an attorney? If I make a Trust which I think is the best why can’t it just be worded that all these leases will be given to my 3 adult children when I pass away? I am a widow on SS and cannot afford to be hiring 2 attorneys in 2 states?
You can create a trust, with assets to go to your children at death. However, to be effective, you will have to file one deed from you (as grantor) to the trust (as grantee) in the county records of each county where the minerals are located in order to transfer them into the trust. Otherwise, the trust terms will not apply to the minerals. This random legal website gives a good synopsis of this process. (Random because I know nothing about this law firm so do not take this as a recommendation.) https://www.brazoslawyers.com/does-living-trust-need-recorded-texas