If you're interested in giving to MaineHealth Pen Bay and Waldo Hospitals, you have many options.
Planned giving can maximize your philanthropic impact while also helping you meet your personal needs
Through creative planning and alternative ways of giving, you can not only help MaineHealth Pen Bay and Waldo Hospitals provide high-level care to everyone in Maine, you can also reduce your tax burden, generate additional income for your retirement, and provide for your loved ones after you're gone.
Amy McNaughton, Senior Director of Philanthropic Initiatives, would be happy to speak with you about planned giving and help answer any questions you may have. Amy has helped many generous people from all walks of life find a philanthropic strategy that fits their unique needs and goals.
Sample bequest language for your will or revocable living trust
A gift to MaineHealth Pen Bay and Waldo Hospitals in your will or revocable trust enables you to support our mission and make a difference in the lives of future generations. A bequest:
- Is easy to arrange.
- Will not alter your current lifestyle in any way.
- Can be easily modified to address your changing needs.
A residual bequest comes to us after your estate expenses and specific bequests are paid.
I give and devise to MaineHealth Pen Bay and Waldo Hospitals (Tax ID #01-0238552), located in Rockport and Belfast, ME, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program).
Naming MaineHealth Pen Bay and Waldo Hospitals as a beneficiary of a specific amount from your estate is easy.
I give and devise to MaineHealth Pen Bay and Waldo Hospitals (Tax ID #01-0238552), located in Rockport and Belfast, ME, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).
MaineHealth Pen Bay and Waldo Hospitals or their affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled.
If (insert name) is not living at the time of my demise, I give and devise to MaineHealth Pen Bay and Waldo Hospitals (Tax ID #01-0238552), located in Rockport and Belfast, ME, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).
You may name MaineHealth Pen Bay and Waldo Hospitals (Tax ID #01-0238552) as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming MaineHealth Pen Bay and Waldo Hospitals as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh, or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming MaineHealth Pen Bay and Waldo Hospitals as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support MaineHealth Pen Bay and Waldo Hospitals free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change-of-beneficiary form from your plan administrator. When you have finished, please return the form to your plan administrator and notify MaineHealth Pen Bay and Waldo Hospitals. We can also assist you with the proper language for your beneficiary designation to MaineHealth Pen Bay and Waldo Hospitals.
If you or your attorney would like MaineHealth Pen Bay and Waldo Hospitals to provide you with customized beneficiary language that is specific to your goals and interests, please contact us.