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I thought this was a very interetesting butnot unique story that I might pass along for readers who have been reading/hearing about the very active gas drilling programs that are taking place in North TX and LA areas----but I don't think the reaction is just because it is connected to gas leasing...

 My husband was at a hearing in Louisiana regarding a well for the company he works for this week and was talking to a geologist and attorney they are working with. The geologist said that someone he knew was a CPA whose clients were starting to see some significant monies from leasing the Haynesville strata--a deep gas play which has not really been drilled or had any reserves proven so far...but there is hugh competition to lease tracts for future drilling and bonus money for acerage is 20-25K an acre--maybe more depending on the location and other variables--some people control hundreds, even  thousands of mineral interest acres....and some are fairly unsophisticated about large sums of money.

One of the CPA's clients was to receive a check for leasing his mineral interests -- $15 million (plus a 25% royalty interest which has yet to be proved by drilling and probably won't see production for several years)...the CPA told him that money was taxable as general income and he would probably have to pay about 40% of it in taxes. The client was incensed and said flat out he was not going to do it....the CPA said there was no way to avoid it really....that he could take the estimated tax amount and invest it for the short term, but that he had to be prepared to pay the tax due...the man was totally resistant to the idea of giving up ANY of the money...have no clue what the person's past history of income or investment or paying taxes were...but thought it was just interesting that he apparently had no idea he would need to pay such a large piece back to the government...

I have heard similar stories of people who have these windfalls and don't see the money as something taxable since it did not come from "work."  Frankly, I think many of them are ripe for the picking because they have not had exposure to investing and planning how to handle large sums of money.

 I read your post with great interest.  I live in the East Texas area where a lot of this leasing frenzy is going on.  I have about 50 acres that is already a part of a producing gas well "unit", and I do receive a monthly royalty check (although it's not going to make me rich).  Many of the old-time families in this area control huge acreages and many have made relatively large financial windfalls from these leases (this part of the state is one of the poorest, per captita).  You are correct, there is a lot of financial ignorance where these families are concerned.  They are definitely ripe for the taking.  I have seen some so called "oil and gas" professionals hold local seminars on what these people should do with their profits, and what amount  to hold out for on leases, for a fairly significant piece of the pie of course.