New oil and gas wealth fuels interest in estate planning

As the shale gas boom creates new wealth in regions of Pennsylvania and Ohio, trusts and estates lawyers are noticing “an uptick in inquiries from landowners with oil and gas interests who are interested in beginning the process of estate planning,” Pittsburgh Post-Gazette reports. However, several considerations were suggested to those individuals, including the relative importance of estate planning compared with future nursing home costs for landowners who don’t have a lot of money, as well as tax options for those who “can afford to gift their oil and gas interests and still live comfortably,” the article said.

Ohio, Pennsylvania