Spilman Attorney David R. Croft Speaks at 47th Annual Heckerling Institute on Estate Planning

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David R. Croft, Member in Charge of Spilman’s Wheeling office and one of the region’s leading authorities on estate planning and federal taxation matters delivered a presentation on the timely subject of mineral interests at the 47th Annual Heckerling Institute, which took place recently in Orlando, Fla.

Geological formations such as the Marcellus and Utica shales are believed to hold trillions of cubic feet of natural gas under much of Pennsylvania, West Virginia and Ohio. Advancements in drilling technologies and increases in gas prices have resulted in swells of new opportunities, as many rural landowners now find themselves in extremely profitable positions. Understanding how to administer this potential wealth requires methodical financial and tax preparedness.

To that end, Mr. Croft explored the complex issues of estate and income tax planning, focusing on the specifics a practitioner needs to understand: the various types of interests retained by a landowner after entering into a lease; the management and maintenance of the mineral interests; and the use of tax partnerships and estate planning strategies.

“David is held in extremely high regard for his broad experience in estate planning and taxation, especially his knowledge of oil and gas issues,” began Michael J. Basile, managing member of the firm. “Our team approach allows us to dissect diverse areas of law to provide creative and beneficial solutions for clients,” he said.

At Spilman, Mr. Croft’s primary areas of practice are taxation, health care compliance, commercial transactions, estate planning and administration. He is a Certified Public Accountant and regularly consults on oil and gas tax matters, particularly as they interact with trusts and federal income taxes. Mr. Croft is a graduate of the West Virginia University College of Law, where he has served as an adjunct lecturer.

The Heckerling Institute on Estate Planning is the nation’s leading conference for estate planners.  It is the largest gathering of its kind for trust officers, accountants, insurance advisors and wealth management professionals. The Institute is a luminary in the estate planning field, and is sponsored by the University of Miami School of Law. For more information regarding the 47th Annual Heckerling Institute on Estate Planning, visit the University’s website: www.law.miami.edu/heckerling.

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