Statewide
Earn Free Continuing Education Credit with our Philanthropy Forum Webinars
Earn continuing education credits and keep informed on the latest developments in charitable giving and tax law as you learn from nationally-recognized experts. Philanthropy Forums are provided via webinar and provide topics of interest to attorneys, CPAs and wealth managers.
This session will give attendees a strong understanding of charitable lead trusts (CLTs), with a particular emphasis on the two very different CLT structures for planning purposes. All CLTs have an initial term during which annual payments are made to a client’s desired charities. The vast majority of CLTs are conventionally structured so that, at the end of the charitable term, the CLT assets will be distributed to (or for the benefit of) the client’s family members to primarily accomplish complex estate planning/wealth transfer goals. However, very few advisors are familiar with the other type of CLT, which is structured so that the CLT assets simply return (or revert back) to the client at the end of the initial charitable term. This type of CLT structure, which is known as a ‘reversionary CLT structure’ or as an ‘iCLAT’, is used for one purpose and one purpose only - to generate immediate income tax savings for clients based on their future annual gifts to charity. This singular planning purpose can be viewed as a simpler planning option for advisors in comparison to the more complex conventional CLT structure.
Brad Gornto has practiced law throughout Florida for 24 years in the areas of complex estate and charitable planning, business law, probate and trust administration and income tax planning. In addition to his law practice, Brad is also the President and Founder of iCLAT Solutions, LLC, which specializes in design, drafting and consulting services of “reversionary” charitable lead trusts for individuals, professional advisors, attorneys, charities, ministries and donor advised fund sponsors across the country. Brad earned his B.S. in Marketing from Florida State University, his law degree from the University of Florida College of Law, and his LL.M in Taxation from the University of Miami School of Law.
Continuing education credits may be available pending application through the Oregon State Bar, Oregon Board of Accountancy, CFP Board and American Bankers Association.