PLANNED GIVING

Planned Giving with MaineShare

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At MaineShare, we rely upon the generosity of our supporters to meet our mission of providing significant support to organizations doing progressive social justice and root cause work in Maine, and to raise public awareness of their work.    

Planned giving offers opportunities to contribute in a way that supports one’s financial and estate plans, as well as MaineShare and its programs.  Planned gifts often provide a means for people to make a larger gift, either because the gifts are deferred and/or because they pay back to the donor during their lives.  

There are many ways you can make a planned gift to MaineShare:

Bequests

You can designate that a portion of your estate be left to MaineShare. This might include some pre-selected asset or assets (such as a specific amount of cash or certain bonds, mutual funds, or other publicly traded securities) or some specified percentage of your total estate.  

Charitable Trusts & Annuities

By utilizing charitable trusts and annuities, donors can benefit from tax benefits and philanthropic flexibility (including, in some cases, long-term income and asset management).

  • Charitable Remainder Trusts provide the donor income for life while designating the remainder as a gift to MaineShare.  They are often funded with appreciated securities or real estate, reducing or eliminating capital gains taxes.
  • Charitable Lead Trusts provide income to MaineShare during its term, and then passes the assets back to the donor or the donor’s heirs.  They often provide a significant reduction in wealth transfer taxes.

Life Insurance

You can name MaineShare as a beneficiary of a portion of your life insurance policy.  Alternatively, you can transfer ownership of the policy to MaineShare during your lifetime.  Gifts of life insurance may help your estate to reduce or eliminate taxes.

Retirement Plan Assets

You can make a charitable gift by having MaineShare receive a portion of your retirement fund through a beneficiary designation. Doing so may significantly reduce or eliminate future estate taxes or embedded income tax payable by heirs on such assets.  Such a deferred gift is intended to maintain your current financial security.  

When You Are Ready

We strongly encourage you to consult with your tax, estate, or financial planning advisor to evaluate which options may be best for you.

If you decide that you would like to make a planned gift to MaineShare – thank you!  We would welcome the opportunity to meet with you and/or your advisor to discuss your intentions and how we can best help you with this process.

Please contact Ana-Maria Hluska, Associate Director at giving@maineshare.org if you have any questions or would like to schedule a time to meet.

Sample Bequest Language

In order to make a bequest, you should speak with your attorney.  Your attorney can help you include a bequest to MaineShare in your estate plan.  We have provided some basic bequest language to assist you and your attorney.

Specific Bequest

If you are considering making an outright bequest to MaineShare, we recommend the following language:

Bequest of a Specific Dollar Amount:
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to MaineShare, a nonprofit organization located at 152 Hospital Street, Augusta, ME 04330, Federal Tax ID #01-0444245, for MaineShare’s general use and purpose.

Bequest of Specific Personal Property:
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to MaineShare, a nonprofit organization located at 152 Hospital Street, Augusta, ME 04330, Federal Tax ID #01-0444245, for MaineShare’s general use and purpose.

Bequest of Specific Real Estate:

I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to MaineShare, a nonprofit organization located at 152 Hospital Street, Augusta, ME 04330, Federal Tax ID #01-0444245 for MaineShare’s general use and purpose.

Percentage Bequest
If you are considering making a bequest of a percentage of your estate to MaineShare, we recommend the following language:

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to MaineShare, a nonprofit organization located at 152 Hospital Street, Augusta, ME 04330, Federal Tax ID #01-0444245, for MaineShare’s general use and purpose.

Residual Bequest
If you are considering making a residual bequest of your estate to MaineShare, we recommend the following language:

I hereby give, devise and bequeath to MaineShare, a nonprofit organization located at 152 Hospital Street, Augusta, ME 04330, Federal Tax ID #01-0444245, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for MaineShare’s general use and purpose.

 Contingent Bequest
If you are considering making a contingent bequest of your estate to MaineShare, we recommend the following language:

If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to MaineShare, a nonprofit organization located at 152 Hospital Street, Augusta, ME 04330, Federal Tax ID #01-0444245, DESCRIPTION OF PROPERTY to be used for MaineShare’s general use and purpose.