AMA Foundation
YOU CAN’T TAKE IT
WITH YOU
By Bud Layne, AMA Foundation Chairman | bud_layne@spantechllc.com
I didn’t start out with much. At age 16, I graduated from high school. I got a job as a laborer in construction. It paid $2.75 an hour in 1965.
Throughout the next 60 years, I was able to build a fair-sized manufacturing business. I had some great people who helped me; two of those people are my daughters. I am grateful. I have had the chance to live in the greatest country on earth and to start a business in the greatest land there is for building a business, especially when you have next to nothing to start with.
Now there is an estate. After you pass, what then? You must have an estate plan. In my case, my kids have been cared for, and the property is paid for. The estate plan directs what you want done with what remains. What is left can be a house, other forms of real estate, money, maybe your coin collection—whatever is tangible. Maybe you have heirs, and maybe not. For estate planning, you need an estate management professional. Let me give you some advice. Insurance salesmen are not estate planners. Estate planners are people whom you pay to represent your needs. Insurance people are there to sell you insurance.
The AMA Foundation is here to help you leave a gift to future modeling generations. You can endow a gift to the AMA Foundation. Your gift will be invested in the AMA Foundation’s fund, where it will earn more value, and the endowment is structured to live on.
How you want your gift to be used is up to you. Each year, the fund gains in value. Part of that gain goes back into the fund so that it keeps growing, and the other part goes where your estate directs it.
Here is an example. An AMA member passed. His passion was Soaring. His gift was to pay the travel expenses for our international team. From now on, the AMA Foundation can fund that expense. That has to make you feel good.
Please think about what you would like to do. We are here to help. You can contact AMA Foundation Director Stephen Haston at stephenh@modelaircraft.org.
