Ways to Include AVMF in Your Estate Planning

Tips and Advice

Estate Planning(April 1, 2021) Legacy gifts are a wonderful way to give back to the community. Please consider how you can continue to support AVMF, the charitable arm of the American Veterinary Medicine Association. You’ll be helping to advance the field of veterinary medicine, provide disaster relief in times of need, and ensure the future of the profession.

Please contact us if we can be of assistance as you plan for a future of healthy animals for generations to come.

Some things to note:

  • If you have invested in or converted to a Roth IRA, you don’t have to worry about Required Minimum Distributions (RMDs) for 2020 due to the pandemic. However, this may change.
  • If you have a traditional IRA, you can choose to give something back to the veterinary community.
  • If you turn 72 years of age in 2021, you will be required to take an RMD from your non-Roth IRA.
  • If you don’t need the money or think it will adversely increase your adjusted gross income, you can have the RMD deposited DIRECTLY to the AVMF and help make an impact on animals across the country.
  • If you were required to switch from AVMA health insurance to Medicare, the additional income from your RMD may be punitive. Medicare Part B monthly fees for a family of two range from $144.60 for a joint filer with income less than $174,000 up to $491.60 per month for household incomes greater than $750,000 per year. It may be that your RMD will push you into a higher Medicare bracket.
  • Municipal bond income can have the same effect. Review your tax status and consider making a charitable contribution.