Mid-America Planned Giving Council

Helping You Make a Difference


Charitable Lead Annuity Trust Planning: Two Strategies for a “Zeroed Out” CLAT with Lathrop & Gage

Download 11-13-15 CLAT Presentation

Note: MO Bar CLE 1.2 hours | KS Bar CLE 1.0 hours

A Charitable Lead Annuity Trust (“CLAT”) is an effective estate planning tool to fund a family’s charitable desires while passing assets to the family at the end of the CLAT term free of gift tax or estate tax.

One strategy funds a zeroed out CLAT with preferred units of a Limited Liability Company.  The preferred units have a coupon rate (such as 7.5%) determined by a qualified appraiser, which generates annual cash flow to the CLAT.  The annual annuity payment from the CLAT to the family charity equals the preferred dividend distribution.  At the end of the charitable term, the preferred units pass to a family trust free of transfer tax.

A second CLAT strategy is used at death to pass business interests to family trusts without transfer tax and cash and a promissory note to the zeroed out CLAT.  The family trust buys the business interests from the decedent’s estate for cash and a note.  The decedent’s estate plan transfers the cash and promissory note to the zeroed out CLAT.Lathrop-&-Gage






Jim Betterman:  
As the Co-Leader of Lathrop & Gage’s Wealth Strategies practice, Jim Betterman focuses his practice on trust and estate planning. He regularly counsels high net worth families and their family offices on complicated matters. Mr. Betterman guides owners of closely held businesses through succession planning as well as tax planning.  He has actively engaged in charitable planning including the creation and funding of substantial supporting organizations and private foundations, as well as charitable remainder trusts, charitable lead trusts and charitable gift annuities. He is actively involved in the settlement and litigation of trust and estate disputes among family members, trustees and beneficiaries. Mr. Betterman has been selected for Missouri/Kansas Super Lawyers, 2006-2014, and among The Best Lawyers in America®, 2005 – 2015.  He is a Fellow of the American College of Trust and Estate Counsel (ACTEC).

Joe Growney:   Joe Growney concentrates his practice in all areas of estate planning, including the preparation of basic and complex estate planning documents, and the implementation of sophisticated planning techniques. He also assists high net worth individuals and closely-held businesses with business succession planning and tax planning, including the formation of corporations, partnerships and limited liability companies, and structuring of corporate reorganizations and recapitalizations. Mr. Growney regularly assists clients with life insurance planning, charitable planning and estate planning with retirement benefits.

Courtney Conrad:  Courtney Conrad focuses her practice in the area of estates and trusts law. She has experience in basic estate planning and sophisticated estate planning, as well as tax planning for high net worth individuals. Ms. Conrad assists clients with charitable planning, including the formation and administration of charitable entities and trusts. She also has experience in wealth preservation and business succession planning, as well as estate and trust administration

Member Quotes

Friday, February 14, 7:30 – 9:00 a.m.

 Evie Curtis, Senior Vice President, Country Club Trust Company

Samantha Shepherd, Founding Attorney, Shepherd Elder Law Group, LLC



 PPP Tracks:  Marketing – Tools/techniques for identifying donors and inspiring them to make charitable gifts; Core CompetenciesEssential knowledge or skills from disciplines related to the field of philanthropic planning.

Evie Curtis’ responsibilities include sales and business development for Country Club Trust Company.  Evie has over 30 years of banking and trust experience beginning her trust career in Atlanta, Georgia.  She is an accomplished speaker and has spoken to many groups on various estate and trust planning issues.  Her broad background includes working with clients with both retail banking and commercial banking needs.   Evie received her Bachelor of Arts degree from Georgia State University and holds an M.B.A. degree from Baker University.  She is extremely active in the community serving as Board Treasurer of the Statewide Independent Living Council and Kingswood Foundation.  In addition, Evie is a Board member of Kansas Advocates for Better Care and the Kansas City Partnership for Caregivers.  Other positions include Toastmasters International District 22 Audit Chair, Kansas City Hospice Planned Giving Advisory Council, and Children’s Mercy Planned Giving Council.

Samantha Shepherd is the founding attorney of the Shepherd Elder Law Group.  Her practice areas encompass elder law, estate planning, long term care planning and asset protection, Medicaid planning, Missouri Medicaid applications (MOHealthnet) and appeals, probate and trust administration, guardianships and Special Needs Trusts.  Samantha has a strong calling to assist the elderly and individuals with special needs. Initially a corporate lawyer by training, she found her desire to serve and to give back to the community drew her to the Elder Law profession. Under the tutelage of Attorney Craig Reaves, the former President of the Missouri Chapter of Elder Law Attorneys and the the National Academy of Elder Law Attorneys, Samantha embarked on a rewarding career helping the elderly, those with disabilities and their families.

Samantha is a 1994 graduate of Boston College Law School, where she received her juris doctorate.  She received her LLM in Estate Planning from the University of Missouri in Kansas City.  She is licensed to practice in Kansas, Missouri, Massachusetts, and Maine.  She is a member of the National Academy of Elder Law Attorneys (NAELA) and the Missouri Chapter of NAELA.   Samantha has been appointed as a Vice-Chair of the Elder Law Committee for the Missouri Bar and is also a member of the Missouri Bar’s Legislative Review Subcommittee for Elder Law. She is an officer on the Board of the Missouri Chapter of NAELA and the 2012 Co-chair of the National Meeting for NAELA. Samantha currently serves as a Director on the Board of Directors for Missouri NAELA and is the Chair of the Membership Committee. She is also on the committee for the Missouri Seniors’ Legal Helpline and a member of the Special Needs Section of NAELA. Samantha is also a member of the Kansas Bar.

JT Cattle Director of Development, Avila University