Estate Tax 101:
The Basics for Marcellus Shale Owners
Robert S. Kiss and Emily R. Lambright
T
his month’s article provides information to
Marcellus Shale gas owners on how to plan
for some of the challenges of being a new gas owner.
This information is to serve as a supplement to our
most recent article “Oil & Gas 101: The Marcellus
Shale,” published in the March edition of the Farm
Bureau News. Our neighbors in or near Ohio,
who are experiencing similar challenges with the
development of the Utica Shale, also will find useful
information here.
Gas owners may find their lives change
10 West Virginia Farm Bureau News
dramatically when they begin receiving royalty
payments. In many cases, those payments may
represent more money than the owners ever expected
to receive. As exciting as that is, it also raises other
concerns for the owners, such as how to protect the
money for their family and how to plan for the future.
Who needs an estate plan? Many people think
only the rich and famous need estate plans but, really,
everyone needs one. If you have family members
you want to protect and you have any assets, then
you need a plan for the orderly administration and