“One more significant gift.”
The Altman family’s relationship with Einstein stretches back for generations. As a young boy in 1927, David Altman’s father experienced an earache and came into the emergency room of Mt. Sinai Hospital—one of three historic Philadelphia hospitals which would eventually merge to become Albert Einstein Medical Center. This experience led to him meeting Dr. Edith (Korentzwitt) Chernoff and Dr. Benjamin Chernoff— married internists who practiced for more than 50 years with Einstein Healthcare Network.
As the network grew, so did the Altman’s relationship with Einstein. Most of the Altman family members were patients of Drs. Edith and Benjamin Chernoff, or their son Dr. Arthur Chernoff— a highly regarded Einstein endocrinologist. One of the Altman’s sons, Steven, later became a member of Einstein’s Board of Overseers— one of the many ways the Altman family gave back to their local communities.
Shortly before Louise Altman passed away in 2013, she and her husband David made the decision to honor the memories of their sons and grandson who passed tragically in an airplane crash by endowing the Steven, Daniel and Douglas Altman Chair of Endocrinology. Dr. Arthur Chernoff was a clear choice as the inaugural chairholder.
David remained involved with Einstein, communicating regularly with Dr. Chernoff about the Endocrinology program and continuing to support other initiatives at Einstein. When David and his children began to discuss estate planning, Brett recalls a clear feeling.
“I knew my dad would want to make one more significant gift.”
David and his children— Brett, Robert, and Sharon—decided to gift David’s house to Einstein. “It wasn’t really a difficult decision,” reflects Sharon. “My brothers and I knew we wouldn’t want to hold onto the house after dad passed away—he built the house himself and cared deeply about it. We all wanted it to go to something he cared about.” All three Altman siblings agreed that continuing their parent’s legacy at Einstein was a natural fit. “This decision made us feel comfortable and made him feel comfortable,” remarks Brett.
The Altman family chose to make a gift of retained life estate, a vehicle which enabled David to donate his home to Einstein during his lifetime, while remaining in his home as a lifetime tenant. Using the retained life estate, David was able to be recognized for his generosity during his lifetime and receive immediate tax benefits while remaining in the comfort of his own home.
“My brothers and I knew we wouldn’t want to hold onto the house after dad passed away—he built the house himself and cared deeply about it. We all wanted it to go to something he cared about.”
“Even when my parents where first starting out and didn’t have a lot to give, they always found a way,” shares Sharon. Einstein Healthcare Network remains grateful to the entire Altman Family for their legacy of transformational generosity.
To learn more about how your planned giving can support Einstein, please contact John Schlesinger at 215-456-3258 or schlesij@einstein.edu.