Force Majeure

On March 11, 2020, the World Health Organization declared the worldwide spread of COVID-19 a pandemic. On March 13, 2020, President Trump declared the COVID-19 pandemic a National Emergency. To stop the spread of the virus, the federal and state governments have issued orders for people to stay home and for businesses to close. Many U.S. states are still under shelter-in-place orders while some are loosening their Read More

What You Need to Know About Filing an Income Tax Return for an Estate

After a loved one dies, you may be named the personal representative of their estate. If you are, it becomes your responsibility to pay the deceased person’s final taxes as well as taxes on their estate. In some cases this may include an income tax return. In today’s blog posts, we’re looking at the basics of how this process works and what you need to know to get started. Upon death, a person’s assets become Read More

Thank You

The threat of Covid-19 has brought social distancing, changes in our daily routines and uncertainty of when this will end. While we don’t know what will happen in the future, it is important to focus on what we can control. Spending more time at home, having quality time with our families and marking things off that to-do list are things that we can control and make us feel at ease. Home projects and yard work might Read More

Top Five Reasons You Need a Lawyer at Your Real Estate Closing

Whether you are buying or selling a property, you need a real estate attorney by your side for your real estate closing. An attorney who is well versed in real estate transactions can protect your interests in more ways than you can imagine. Read on to discover the top reasons you need a lawyer at your real estate closing.  1. They can review the title commitment and remove exceptions. Your attorney will Read More

Oklahoma Probate Explained

When a person dies, it may be necessary to administer their estate in order that their assets may be properly distributed to their beneficiaries. This process is called Probate, if the deceased died with a Last Will and Testament or is referred to as an Administration if the deceased died intestate (without a Will). During the probate/administration process, the Personal Representative of the Estate shall be Read More

A Crash Course to Starting Your Business

If you’ve decided to start your own business, first of all, congratulations! This is a huge step on your path to success. It takes bravery and determination to take a business idea and commit to making it happen. Great job! You’ve already done a lot of the first steps of starting a business. You’ve had the initial idea, you’ve given it some time to grow into a plan, and now you are beginning to take action to make Read More

The 3 Biggest Responsibilities of a Personal Representative

Being named the personal representative of a loved one’s estate comes with some big responsibilities. The Personal Representative is responsible for executing or overseeing, the wishes laid out by the deceased, or testator, as well as winding up all affairs of the estate. You, in essence, usher the estate through the probate process, in accordance with state laws. Read on to learn about the three biggest duties you Read More

A Brief Introduction to Estate Planning

If you’re like most of our clients, you devote most of your life to your family. You work hard so that you can provide your family with a nice home, good education, and the foundation for a secure future. You may worry about what will happen to your loved ones at your death. Taking the time to plan for your family after you pass can help to ensure that your hard work continues to provide for your family Read More

What is a net revenue interest?

Net revenue interest is a calculation of the total revenue interest that a person owns in a unit. What does this mean if you are a mineral owner? It means that the following formula will help you to determine your net revenue interest and in turn what you might anticipate receiving as your share of production from a well. To illustrate this we provide the following example: Bob owns 40 acres in the SE/4. Company X Read More

What to do when an oil company suspends your interest?

Before an oil and gas company drills a well they generally employ an oil and gas title attorney to render a drilling opinion. A drilling opinion tells the operator of the well who owns an interest in the surface, minerals and leasehold interest in a proposed unit. In addition to detailing who owns the interest, the drilling opinion will also set forth any title requirements that the attorney feels should be satisfied Read More