Long ago, oil companies purchased oil and gas leases with a 1/8th royalty, a ten-year primary term, annual delay rentals of $1.00 per acre, and on pre-printed forms (usually called Producers 88s). My, how times have changed! Bonuses, of course, are significantly higher. Primary terms are shorter and much language in the lease is
If you are like me, you find the holiday season to be a busy time. Interspersed between buying Christmas gifts, receiving Christmas gifts, and spending time with family and friends, I find myself making last minute donations to my favorite charities. Here is a neat little trick – avoid capital gains taxes by giving stock
HalfMoon Education is offering an online educational program, on December 15, on Easements, Rights-of-Way and Eminent Domain. I have the good fortune to be one of the speakers. I hope you will join me - it looks like a good educational program for those in the oil and gas industry interested in expanding their work
While I could focus on many things, today I want to focus our firm’s commitment to our clients. As an Illinois attorney, I am constantly reminded of the many fine attributes of Abraham Lincoln, who in addition to being a great president was probably the greatest Illinois lawyer. A recent article, from which I am
Last month I wrote a short blog on the hazards of investing in oil and gas well ventures, which are often unregulated investments free from any scrutiny by the Securities and Exchange Commission. If it is an unregulated investment, the sole remedy if you are “bamboozled” is to go to court. Regulated securities, namely stock
BIO: The Wilhelm Law Firm, consisting of Edward Wilhelm and Jack Wilhelm, provides a broad range of legal services to oil and gas well operators, mineral estate and royalty interest owners, mineral and royalty buyers and sellers, and oil and gas landmen. We also assist surface estate developers, including but not limited to, solar panel
For any small business, having good liability insurance is an absolute must. As well, having a good local attorney that can review commercial contracts, which often contain indemnity provisions, is also an absolute must! Indemnity clauses, which appear in many, many contracts and many, many types of contracts, are drafted to relieve one party to
I recently got the following inquiry: “My father recently passed away in Houston and left me his Texas oil and gas rights in his Will (my brother was disinherited). I read your paper ‘Daddy Died’, and I found it very helpful. But I was hoping you could answer a question for me—is Muniment of Title
Last Monday I received a call from an attorney in Finley, Ohio. The decedent (e.g. dead guy) had written a will and a living trust, while living, of course. The plan had been to convey all of his assets into the living trust (with named successor beneficiaries, such as his wife and children) so that
SPOILER ALERT: Most lawyers can draft a will. The requirements for a valid will are written in a statute and there are a lot of “forms” out there. As a matter of fact, you can draft your own will – just go to LEGALZOOM. AND NOW FOR A LITTLE GALLOWS HUMOR: If you draft your
