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Planning for Your Future and Investing in MFP's Future Through Gift Planning
- Are you deeply committed to Maine Family Planning’s mission?
- Do you care passionately for the people we serve?
- Do you have a will?
Planned gifts enable your values to make a lasting impact on Maine Family Planning and can inspire others to join in your commitment. Selecting the right planned giving vehicle also can reduce estate and income taxes, maximize financial and tax benefits, and empower you to make a larger gift than you ever thought possible.
Many people believe that their assets are insufficient to make a “meaningful” gift to a charity they love. Yet everyone, no matter what the size of their estate, should have a will. And a will is the easiest and most popular way to ensure that the people and organizations you care about receive what you want them to receive after your death – be it property or cash. You can:
- state an exact amount to be given through your will;
- bequeath a specific property or item;
- give a percentage of your assets; or
- bequeath all or part of what is left in your estate after other bequests are satisfied.
Sample Bequest Language
"I give, devise and bequeath [identify here a specific sum of money, a percentage of your estate, or a specific asset] to Family Planning Association of Maine, Inc., d/b/a Maine Family Planning, a non-profit 501(c)(3) charitable organization located at 43 Gabriel Drive, Augusta, ME 04330, to be used for its general purposes."
A gift of any remainder after all other bequests have been paid.
"I give, devise and bequeath all [or a percentage – for example, fifty percent (50%)] of the rest, residue and remainder of my estate, both real and personal to Family Planning Association of Maine, Inc., d/b/a Maine Family Planning, a non-profit 501(c)(3) charitable organization located at 43 Gabriel Drive, Augusta, ME 04330, to be used for its general purposes.”
Gifts of Life Insurance
You can make a planned gift by naming the Family Planning Association of Maine, Inc. (d/b/a Maine Family Planning) as the beneficiary or owner of your life insurance policy.
If you have an existing life insurance policy that is no longer needed to protect your family or business, you can name Maine Family Planning as the policy's beneficiary. Because the designation is a revocable gift, you are not entitled to an income tax deduction; however, the value of the policy is deductible from your taxable estate. If you transfer ownership of the policy to MFP, you can deduct the current value of the policy from your income taxes; if you still are paying the premiums, you can deduct the cost of those premiums each year.
You also can purchase a new life insurance policy to benefit MFP. If MFP is designated as the owner and beneficiary, you are entitled to an income tax deduction for your initial contribution and the premium payments each year.
Gifts Through Trusts
A charitable lead trust can provide substantial support to Maine Family Planning now, and later pass assets on to heirs with a minimum of gift or estate taxes. A lead trust is an ideal way to fund a discrete capital project or other immediate need. A lead trust is an irrevocable gift: you transfer assets into the trust for use by MFP for either a term of years or for your lifetime, as you decide. While the trust is in effect, MFP invests the funds and makes trust payments to program(s) you designate. At the end of the trust term, the assets are returned either to you or to your heirs, depending on your financial goals.
Charitable remainder trusts are useful for those who wish to make a charitable gift to MFP and receive income for their lifetimes and/or the lifetimes of others. A charitable remainder trust may provide a charitable income tax deduction equal to a portion of the trust value in the year the gift is made; provides regular income for the lifetime of each beneficiary or for a period of up to twenty years; may help bypass capital gains taxes and/or reduce estate taxes; and can be funded with a wide range of assets including cash, appreciated securities, or real estate.
The 1971 Legacy Society
The 1971 Legacy Society is a special group of friends and supporters who have chosen to invest in the future of Maine Family Planning through gifts in their wills and/or estate plans. For more information, please click here.
Please consult with your attorney or financial advisor before making any type of planned gift.
Maine Family Planning is a 501(c)(3) organization. Contributions are tax-deductible to the extent allowed by law.