From Our CEO

Use January to Plan Your Giving. Let Me Help.

Adin Miller, Chief Executive Officer

January 19, 2024
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Adin with his father-in-law, Jeff

Dear Friend of LAMVCF,

Happy New Year! I hope you had a wonderful holiday break and festive celebrations.

When the school semester ended, my family and I decamped to New Mexico for a change of scenery and a family visit. While there, I spent time chatting with my father-in-law, Jeff, about a few things such as the Yankees/Red Sox rivalry, skiing, my work, and his charitable priorities.

The freshness and energy of a new year can spur us to think about topics and take on tasks we have put off. Jeff and I ended up speaking about Qualified Charitable Distributions (QCDs) and Required Minimum Distributions (RMDs); yes, a fascinating conversation while walking Theo in below freezing temps! We also spent time speaking about his will and estate plans.

I want to highlight a few points from our conversation below for your own consideration.

First, let’s get some definitions out of the way:

I learned from Jeff that he actively decides how to allocate his QCDs in January, as he knows at that point the value of his RMD for the year. He then makes his charitable gifts over the course of the year.

So, why might you consider a QCD?

As the conversation continued, Jeff mentioned that he is updating his estate plan and will. Since RMDs and the approaching tax deadlines necessitate contact with his professional advisors, he figured now is the time to make a few tweaks to his plan.

As you create or update your plan, it can be an opportunity to think about the people and causes you care about the most. Taking care of our families is typically the first priority. Providing support for a cause near and dear to our hearts can also be deeply meaningful – and impactful.

There are many ways to reduce your tax burden by including gifts to charitable organizations, including LAMVCF, in your estate plan.

Here are some to consider:

I share this conversation with you to help inform your thinking or the thinking of those around you. I hope you have found it helpful.

We all can make a difference in our communities, and by doing so, we can leave a legacy of generosity and goodwill – and save more than a few tax dollars!  

How can we help you further your estate planning this month? Reach out to me or Laurel Iverson – let’s have a conversation.

Here’s to a happy, healthy, and prosperous 2024!

Adin Miller, CEO LAMVCF