Estate Planning

Please consult your legal or financial advisor when considering any planned gift. Penquis  staff do not provide professional advice on estate planning. They are, however, happy to discuss with you and your professional advisors, in confidence, gift opportunities that help ensure your needs are met. Please call us at (207) 973-3574.

Life Insurance Gift

Life insurance policies can be donated to Penquis or Penquis can be named as the beneficiary. Gifts may be a paid-up policy, an existing policy with cash value or a new policy. Premiums paid after the policy has been contributed are deductible, and donors earn charitable deductions equal to the present cash-surrender value of the policy.

Retirement Plan Gift

A retirement plan gift is made when Penquis is named as the remainder beneficiary after the donor’s death. This type of gift avoids income tax on the plan, in addition to possible estate tax.

Real Estate

Donors may contribute real estate to Penquis and, if they wish, retain the right to reside in the property for their lifetimes. When such gifts are made, donors receive deductions in the year in which the gifts are made.

Will or Bequest

A gift made through a will or bequest enables donors to make contributions without diminishing assets during their lifetimes. A bequest enables donors to make gifts of personal assets that can be fully deducted from an estate. Gifts may be for a specific amount, a percentage of the estate or specific property within an estate.

Charitable Remainder Trusts

Charitable remainder trusts make it possible for donors to retain or even increase income during their lifetimes for themselves or for the lifetimes of other beneficiaries, while providing a significant gift to Penquis  upon the death of the beneficiaries. These trusts may be structured to pay donors and/or their beneficiaries a fixed percentage of the market value of the trust or a fixed amount.

Charitable Lead Trusts

A charitable lead trust makes payments to Penquis  for a specified term of years or for the lives of the donor and other beneficiaries. These trusts may be structured to pay donors and/or their beneficiaries a fixed percentage of the market value of the trust or a fixed amount.

Charitable Gift Annuity

 A charitable gift annuity provides the donor or donors lifetime payments for the gift. The charitable gift annuity is a simple, contractual agreement between one or two donors and Penquis  in which assets are transferred to Penquis in exchange for an annuity payment. The rate of return is set permanently at the creation of the annuity and does not vary. A gift annuity provides income and estate tax deductions, as well as important capital gains tax benefits.

 Pooled Income Fund
 A pooled income fund pays an income for life to the donor or other income beneficiaries designated by the donor. Cash or securities are transferred to a pooled income fund at Maine Community Foundation, which, as trustee, manages the assets and pays an income for life to the donor or the income beneficiaries designated by the donor. At the death of the income beneficiary, the remaining assets in the pooled income fund account are transferred to Penquis

Join Our Mailing List
Email: