[WSBARP] those dang worthless mineral rights

[Kate Love]

Hello Listmates:

I have a one of those worthless-right-now mineral rights issues right now and am seeking the collective brainpower:

Decedent left an (unfunded) trust and standard pour over will, client is the trustee (and nominated PR)

the estate has various assets worth less than $100K, but also mineral rights in Montana that we have been told are probably virtually worthless.   We have a few emails from Decedent that she wanted to leave the mineral rights to a minor niece but never followed through with it.

We've gotten the other assets in the Trust account via an SEA, but of course the dang mineral rights cannot be claimed by an SEA.  The client only wants to cover his behind re the mineral rights.  We could appraise and sell the rights, but that would require opening probate and paying for appraisal, sale & transfer just for that - just $$ down the drain on a worthless asset.

Oh, and there are about 20 beneficiaries including a few minor children, so getting adequate disclaimers seems a bit of a dodgy strategy...

Any suggestions ?  What am I overlooking ?  thanks!  Kate



Kate F. Love
WSBA No. 51314


Hawkes Law Firm P.S.
main line 206 367 5000
fax line    206 367 4005
katel at law-hawks.com<mailto:katel at law-hawks.com>
www.hawkeslawcenter.com<http://www.hawkeslawcenter.com/>

19944 Ballinger Way NE Ste #100
Shoreline, WA 98155

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