Q: Chesapeake Energy property, which was in deceased father’s trust, did not have a quit claim from trust to
beneficiaries. This was discovered after trust ended with final tax return. Chesapeake insists there has to be quit claim from trust to beneficiaries in order to claim ownership, but since trust no longer exists, nothing can be conveyed. What should be done?
A:
Sorry for your loss.
It is no uncommon for minerals to left out of a trust. In fact the same thing happened to Bing Crosby. It is extremely likely that your father also had a will with a clause that instructed that any property administered is to be put into the Trust. This is known as a "pour over Will". The process is normally to probate the Will in the state where the minerals are located. Then according to that state's procedure the Trust can become vested in the minerals. Then the trustee follows the Trust's instructions with regard to assets. Most often this calls for the Trustee to distribute the minerals to various heirs.
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