Legal Question in Wills and Trusts in Montana
royalty interest in my estate
I own several a very small oil royalty interests in Montana with total income of less than $400.00 a year. My estate will be in Washington. What is the most practical way to pass these on to relatives.
1 Answer from Attorneys
Re: royalty interest in my estate
You are wise to choose to probate your estate here,as WA probate is simple and easy.
You do not indicate whether you own real property in WA or not, and that is the deciding factor as to whether you can take advantage of a probate rule allowing an even simpler probate for an estate that does not involve real property and involves personal property of less than $60K in value.
Your leases are an interest in land, but not land per se. The fact that they involve property in Montana does not defeat your intent to do your probate here. The critical thing is that there should be some mention in your will of these leases so the executor knows to go look for them. Be sure to alert the attorney who is drafting your will.
Hope that helps - Elizabeth
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