“A $41 Trillion Market – Why Legacy Planning Matters, and What it Takes” – Gary Altman Tackles


Agent’s Sales Journal asked estate planning expert, Gary Altman, Esq., for his thoughts on charitable lead trusts (CLTs) which distribute payments to a charity during the trustees’ lifetime, then provide an income stream to any beneficiaries after the owner’s death.

Altman believes this can be an excellent way for clients to illustrate to their beneficiaries what is most important to them. “One thing I always suggest is, when there is a large liquidity event, why not take $30 million or $40 million of it and put it into charitable lead trust so the income can fund a private foundation which, at their death, the children control so they can learn there are other people in the world who are less fortunate than them?” said Altman. “Then, the money goes to grandchildren after a number of years, so you’ve created a legacy in terms of the foundation and a legacy in terms of your grandchildren.”

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