What Is a Planned Gift?

What is a Planned Gift?

• A planned gift is a major gift that requires forethought, as it comes from assets or from a will or estate. Many donors also work with a professional to help them with a planned gift. Some donors make a gift (or gifts) during their lifetime to benefit causes they care about now. A gift in your will (also called a bequest) is the easiest way to make sure the things you care about are supported for generations to come. The goal of planned giving is to help you plan your estate and charitable giving in a way that benefits you, your family, and the causes you care most about.
• It’s important to think about and review your will regularly, as tax laws and family situations change over the years. 
• Federal and state estate taxes have been adjusted and may change significantly if you change your state of residency. 
• The estate tax is a tax on your right to transfer property at your death.
  • Only those with estates valued at over $11.7 million in 2021 (or $11.58 if they died in 2020) are subject to it. This is per person. Potentially a married couple might have $23.4 million in assets (or $23.16 million for a death in 2020) before they are subject to any federal estate tax.

Why make a planned gift to the Catholic Foundation of Maine?

• A gift through your will, insurance or IRA beneficiary form could make an impact,  be substantially more than you would consider giving outright, and could ease taxes because all contributions to the CFM endowments are tax deductible charitable gifts.

Who Can Make a Planned Gift?

• Anyone can create a legacy through the Catholic Foundation of Maine for causes they care most about. We work confidentially with donors of all levels. You do not have to be wealthy to make a gift in your will. We are also blessed to work with donors who have greater assets and wealth, but who still want their legacy professionally managed.

Why Consider Planned Giving?

• We understand stewardship and spirituality and we know you have specific things you care about deeply.  We understand and will respect your desire to provide a legacy reflecting that.    You can support the future by making your plans now. The Catholic Foundation of Maine is ready to help you.
• You can create your own legacy through a gift in your will. Even a small gift can be joined with others in a permanent endowment fund to make a substantial difference the years to come.
• Planned gifts can help you achieve your financial goals by providing tax benefits and the potential for returned income. Many gifts also benefit your children by providing tax and financial benefits.

What Can I Give?

• Planned gifts are generally made from outside of one’s discretionary income, enabling you to make a gift far greater than you thought you could. Gifts could come from appreciated assets, real estate, life insurance policies, or businesses.

How Can I Give?

• The easiest way to make a planned gift is through a gift in your will. We can help you and ensure that your gift is used the way you intend, in perpetuity. A provision in a will for any of the Catholic Foundation of Maine endowments can create a substantial contribution without diminishing assets during one’s lifetime. A gift can be made through a will or a trust, and both gifts enable you to distribute assets in the amounts of proportions you indicate.

 You may choose to:

• Give a set amount to an endowment of your choice, noted in your will
• Give a percentage of your estate, after your family and other needs are fulfilled
• Create an endowment fund now, using cash, securities, and other assets
• Create a fund now, and complete it with a planned gift in your will
• Adding to an existing fund with a planned gift in your will
• Open a charitable gift annuity, specifying the beneficiary, that will be professionally managed through the Catholic Foundation of Maine.