Estate Planning – The Clark Law Firm, PC represents Landowners in establishing Limited Liability Companies (LLC), Family Limited Partnerships (FLP), and Irrevocable and Revocable Trusts.
For a variety of reasons, Landowners involved in gas leasing and gas production are exploring the potential benefits of creating LLC’s, FLP’s or Trusts. Effective estate planning requires a review of the clients current financial status, furture income and goals the client is looking to attain. These vehicles may work for certain landowners to potentially reduce or shield a Landowner from personal liability, minimize tax consequences and also to direct and control future natural gas royalty payments. LLC’s, FLP’s and Trusts are not appropriate for all Landowners. If you are considering creating an LLC, FLP or Trust, it is important that you receive personalized legal and accounting advice to assist you in evaluating whether these vehicles are right for your individual situation.
To assist Landowners in managing the highly complicated area of federal and state estate taxes, gas royalty planning, and other inheritance issues, we have created a sophisticated and experienced network of attorneys that routinely represent Landowners relative to these issues. Unfortunately many Landowners jumped into creating complex business entities and Trusts only to find that these vehicles were not right for their personal situation. Remember, no two Landowners are ever the same. Do not be oversold on creating a business entity or estate planning vehicle that is not right for you and your family. If you are considering creating an LLC, FLP or Trust, Attorney Doug Clark is Pennsylvania’s Landowner Lawyer and he can help you. Contact us today!