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Breakout Session
April 20, 2017 | 2:30 PM

The Simplicity & Power of "Reversionary" Charitable Lead Annuity Trusts

Bradford Gornto, Effectual Giving, LLC & Gornto Law, PLLC

The presentation will focus on the "reversionary" form of charitable lead trusts, which is the non-traditional form of CLT because it is only used for "income tax" planning purposes, NOT estate tax savings purposes.  Importantly, this form of CLT is much easier to establish and administer for both the donor and the recipient charitable organization.   Moreover, from the recipient charity's perspective, the monies it receives from this simpler form of CLT are no different from what would be received from a traditional form of CLT.  In this ongoing historically low interest rate environment, reversionary CLTs are a compelling way for charities to realistically "tap" into the immediate and recurring charitable dollars available when a donor establishes a CLT.  This is particularly true now that $5.4 million estate tax exemption levels and portability rules prevent most donors from having to worry about estate taxes.  Additional points to be covered in this presentation are that: (i) reversionary CLTs can also be established by corporate donors and existing trusts; (ii) real estate holdings can be used to fund CLTs; and(iii) "recapture" tax consequences from death of donor can be prevented altogether by simple additional planning.

   

For over 15 years, Brad Gornto has practiced law throughout Central & North Florida in the areas of complex estate planning, business law, probate and trust administration, charitable planned giving, tax-exempt organizations, andincome tax matters.  In addition to his law practice, Brad is the President and Founder of Effectual Giving, which is a national consulting firm that assists charitable organizations, philanthropic families and professional advisors across the country in the effective implementation of split-interest charitable trusts and other planning giving strategies.

Brad received his undergraduate degree (marketing) from Florida State University in 1995, his law degree (J.D.) from the University of Florida College Of Law in 1998, and his Masters in Taxation (LL.M.) from the University Of Miami School Of Law in 2000.

Brad’s the current volunteer service includes: (i) member of the Florida State University Foundation, Inc. Planned Giving Advisory Council in Tallahassee, Florida; (ii) President and member of the Board of Directors for The Partnership for Philanthropic Planning of Greater Orlando, Inc.; (iii) member of the Board of Directors for the Down Syndrome Association of Central Florida, Inc.; (iii) advisor to the Board of Directors for the 4Rivers Foundation in Winter Park, Florida.  Brad is a past President of the Estate Planning Council of the Fun Coast, Inc. (Volusia, Flagler and St. John’s Counties). 

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