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Bradford B. Gornto and Randy Huston
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Breakout Session
Tuesday, May 1, 2018 | 11:00 AM

The Income Tax Pain Point of Donors of ALL Ages Can Be Greatly Relieved with the Reversionary Charitable Lead Trust

Bradford B. Gornto, Esq., LL.MEffectual Giving, LLC

Randy Huston, Yellowstone Trust Administration

 
Reversionary Charitable Lead Trusts are very popular now. This is largely because Reversionary Charitable Lead Trusts focus solely on current INCOME tax savings instead of future "potential" estate taxes. Donors like the accelerated charitable INCOME tax deduction, Charities like the immediate annual payment stream and Advisors like the assets under management. The train is leaving the station with interest rates rising. However, there is still time in the next few years to put these trusts together for clients. Many donors and clients are looking for larger "bunched/accelerated" charitable INCOME tax deductions, the Reversionary Charitable Lead Trust could be the solution.

 

Bradford B. Gornto, Esq., LL.M, Effectual Giving, LLC, Ormond Beach, FL

A lifelong Floridian, Brad Gornto has practiced law in Florida for 17 years in the areas of estate planning, business law, probate and trust administration, charitable planning and income tax planning.  In addition to his law practice, Brad is also the President and Founder of Effectual Giving, LLC, which is a consulting firm that assists charitable organizations and philanthropic families across the country in the actual implementation of all forms of effective planning giving solutions, including the iCLAT. 

Brad earned his Bachelor's Degree in 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 of Laws in Taxation (LL.M) from the University of Miami School of Law in 2000.  Importantly, during his 2nd and 3rd year of law school at UF Brad had the providential opportunity to work with the Sr. Gift Planning Team at The University of Florida Foundation, Inc.  Brad had the privilege of learning from experienced planned giving experts on the charity's side of the table - prior to becoming an attorney.  This gave Brad a strong understanding of the specialized field of charitable planned giving which is simply not taught in law school, along with a unique additional perspective to carryover into his law practice. 

As part of his estate planning practice, Brad has counseled 100's of high net-worth individuals and families over the years.  Unlike many estate planning attorneys who tend to avoid in depth charitable planning discussions, Brad intentionally explores both the tax and non-tax benefits of charitable planning with nearly all of his clients. 

Brad’s current volunteer service includes being: (i) a member of the Florida State University Foundation, Inc. Planned Giving Advisory Council in Tallahassee, Florida; (ii) a development advisor for the C.S. Lewis College Foundation, Inc. and The C.S. Lewis Study Center based in Northfield, Massachusetts; (iii)  the Vice-President (Immediate Past President) and member of the Board of Directors for The Charitable Gift Planners of Central Florida.  Brad is a past President of the Estate Planning Council of the Fun Coast, Inc. (Volusia, Flagler and St. John’s Counties) and past Board Member and Secretary of The Down Syndrome Association of Central Florida, Inc.. in Orlando, Florida.  Brad is also an active member of his local church and regularly volunteers with various Christian ministries. Brad is happily married to his wife of 17 years, Cindy, and together they are raising their 4 children, Bryce, Owen, Joel & Daisy Grace.

 


Randy Huston, CFP®, Executive Vice President, Yellowstone Trust Administration, Inc., AZ

Randy Huston serves as Executive Vice President for Yellowstone Trust Administration, Inc., a third party administrator for Charitable Trusts.

Randy is a Certified Financial Planner® with expertise in charitable estate planning. He has a B.A. in Business Administration, a Master's Degree in Social Science and has been a Real Estate broker.

Randy has a unique perspective in the Charitable Trust field because of his background previously as a Planned Giving Officer, as a current owner of Yellowstone Trust Administration, Inc. and as a CFP.  He is an advisor to advisors to show how charitable trusts can be a useful part of clients’ financial plan.

As a charitable tax planning specialist, Randy has worked in the financial services field for over 30 years by supporting attorneys, CPA’s and financial advisors throughout the country with charitable trust related information and administration services. Due to his wealth of experience in this highly specialized field, Randy is frequently called upon by the professional advisory community to share his knowledge through client illustrations and speaking engagements. Serving as the administrator on approximately  500  charitable trusts nationwide, Randy and his Yellowstone Trust Administration team are the go to source for charitable trust related matters.

Randy has a twin brother Rob who is his partner/CPA at Yellowstone Trust Administration.  Randy is in the Arizona office while Rob manages the Montana office.

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