• Date-of-death/Probate –This is the most common reason Herco preforms mineral appraisals. When someone passes and their mineral interests are to be inherited, a mineral value needs to be assigned to the mineral assets for tax purposes. A date-of-death appraisal provides the party inheriting the mineral rights a basis for tax purposes in the event of a sale or future transfer.
• Sale of minerals – Herco is here to help you establish a current appraised value if you are considering a sale of your mineral interests. We guide you through the entire mineral sale process.
• Gifting – If you are considering gifting your mineral interests, a Herco mineral appraisal will provide you with the necessary information for your legal and accounting professionals.
• Litigation – Herco will provide you with a mineral valuation when it comes to your courtroom needs including lawsuits and divorce.
• Tax requirements – Anytime you divest of your mineral rights, you’ll need to know your step-up-in-basis, we will complete a mineral appraisal effective the day you acquired said assets. This allows you to only pay taxes on the increase of value rather than the full sale price.
• Estate planning – A mineral appraisal from Herco can assist when you need to look ahead and help gain clarity on the value of your mineral estate.
• Medicaid – Before you can qualify, Medicaid will require you to value your mineral rights and divest of them if possible. Herco can facilitate that process.
If you need a mineral appraisal for any of these situations or if you have a question, please contact us and let us help you through the process. We will ensure you get a thorough and thoughtful assessment of your situation.
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