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iCLAT: Immediate Tax Savings From Future Annual Charitable Gifts

iCLAT: IMMEDIATE TAX SAVINGS FROM FUTURE ANNUAL CHARITABLE GIFTS

Cost Free
Presentation Length 1.0 hour

Recorded DateSeptember 7, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelIntermediate
Course Description

An iCLAT (Immediate Charitable Lead Annuity Trust) is a transformative strategy that offers an instant boost to charitable tax deductions. The objective is simple: to generate a large immediate charitable income tax deduction in the current year based on your client’s future annual gifts to charity.

This immediate tax relief is perfect for individuals with substantial incomes from a large bonus, commission, sales of property or businesses, IRA, 401(k), retirement plan distributions, Roth IRA conversions, large K-1 income, ISOs, IRD items from an estate/trust, or other related sources. 

The iCLAT strategy is especially impactful for those clients who already make charitable gifts to one or more charities on a recurring annual basis. There is no need for your clients to write big checks or transfer assets to a donor-advised fund (DAF) or private foundation in order to receive a very large “upfront” charitable deduction in the current year! 

Elevate your advisory/CPA services by helping clients generate much-needed tax savings in the current year while they simply continue making donations to their favorite charities, their own donor-advised fund, or private foundation on their preferred annual basis.

Learning Objectives:


  • Identify the key benefits and distinctions of the iCLAT, especially in comparison to other charitable giving mechanisms like donor-advised funds (DAF) or private foundations

  • Recognize the two common ideal client situations for iCLAT consideration and review cases/examples to gain a solid understanding

  • Evaluate the suitability of the iCLAT as a strategic tool for clients with specific financial circumstances, such as large bonuses, property sales, or IRA conversions, to optimize their charitable income tax deductions

  • Recognize the scenarios in which clients already committed to regular charitable donations can best leverage the advantages of the iCLAT to achieve immediate tax relief without disrupting their ongoing contributions

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Brad Gornto

iCLAT Solutions, LLC
President and Founder
[email protected]
(844) 464-2528

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Brad Gornto has practiced law throughout Florida for 23 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 the design, drafting, and consulting services of “reversionary” charitable lead trusts for individuals, professional advisors, attorneys, and donor advised fund sponsors.

Brad earned his undergraduate degree (marketing) from Florida State University, his law degree (J.D.) from the University of Florida College of Law, and his LL.M In Taxation from the University of Miami School of Law.

Brad’s current volunteer service includes (i) Board of Directors & Treasurer of the National Association of Charitable Gift Planners (“CGP”); and (ii) member of The Florida State University Foundation, Inc. Planned Giving Advisory Council.

Brad is a past member of the Board of Directors for the Down Syndrome Association of Central Florida and various other charitable organizations over the years. Brad is also a 2020 recipient of the University of Florida Foundation’s “Gary Gerson Award for Advisor Excellence.” Brad and his wife Cindy are happily raising their four children, Bryce, Owen, Joel & Daisy Grace in Ormond Beach, Florida.

About Our Presenter

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We are engaged to design, draft, establish and fund iCLATs, that's our sole purpose!  iCLATs are technically known as "reversionary" charitable lead annuity trusts.  We provide our services in all 50 states. Our services are provided collaboratively with our clients' professional advisors (attorneys, accountants and financial planners).