What right does a Trustee have concerning leases related to oil and gas?

A Trustee has the right to enter into leases that extend beyond the period of the trust. This is a significant aspect of a Trustee's responsibilities, especially in the realm of oil and gas leasing, which can involve long-term agreements that may outlast the actual duration of the trust itself. The authority to enter into such leases ensures that the Trustee can maximize the value of the trust assets and secure ongoing benefits for the beneficiaries.

This ability is critical because oil and gas leases often require multi-year commitments to ensure that exploration and drilling can occur without interruption. By allowing leases to extend beyond the trust's duration, the Trustee acts in the best interest of the beneficiaries by unlocking potential long-term revenue from these resources.

The other answer choices illustrate misconceptions about the powers and limitations placed upon a Trustee, such as limiting leases to only family members or terminating existing leases outright, which would not typically align with the fiduciary duty of a Trustee to act in the beneficiaries' best interest. Additionally, extending leases only for the duration of the trust would reduce potential earnings and hinder the efficacy of asset management.