Oh Deer: The Public Trust Doctrine and Issues Regarding Estate Planning for the Cervid Breeding Industry

Describes different routes that an estate planning professional can take to effectuate an estate plan for a cervid breeding operation, with emphasis on Texas regulations. First, discusses the history of the industry, the economic impact of the industry, and the current direction of the industry. Next, discusses opposition groups, regulating agencies, the unique way that the state holds cervids in trust for the people, and the financial burdens of the cervid breeding industry. This will help determine what kind of business entity would best serve the owner's goals and whether a trust would serve as the best estate planning technique for the business. Also, briefly considers the role of the personal representative and the role of the trustee in the cervid breeding industry. Demonstrates how different types of business entities establish a cervid breeding operation and why a revocable living trust (as compared to a pet trust) is the best vehicle for a cervid breeding operation to convey an owner/operator's interest at death.