Gifts through a Will or Trust (Bequest)
By providing for the Foundation in a will, a donor can make a substantial contribution without diminishing assets during one’s lifetime. Since bequests are deductible from an estate, there is also the potential for significant estate tax savings.
Creating a Will or Trust
If you are in the process of creating a will or trust and would like to include a gift to support the University of Maine, thank you! We would be happy to help with suggested language and fund descriptions to document how you would like your gift to be used.
Sample language for remembering the University of Maine in a will or trust
“I give and bequeath to the UNIVERSITY OF MAINE FOUNDATION for the benefit of the University of Maine, Orono, Maine (possible choices follow):
- the sum of $______________; or
- ____________ percent of my estate; or
- the property [described here]
to establish the __________________Fund. The principal is to be endowed and only the distributions, as established by the University of Maine Foundation Board of Directors, shall be used for _______________________.”
The Foundation’s Tax Identification Number is 01-6011501.
Having Trouble Getting Started?
Do you need to draft your first will or update your revocable living trust? We’ve created a worksheet to help you get started. Of course, please feel free to contact us. We are happy to help.
Already Have a Will/Trust?
Perhaps you already have a will or trust, but would like to add a gift to benefit the University of Maine to it. Your attorney may be able to help you make this change without having to change other parts of your planning documents by preparing a codicil.
If you have already included support from the University of Maine in your will or trust, thank you! Donors who let us know they have provided for the University of Maine or its affiliated organizations by making a bequest or other form of planned or deferred gift become members of the Charles F. Allen Legacy Soceity.
Inspiration for Giving
University of Maine Foundation President Jeffery Mills announced the receipt of a $100,000 gift today to kick off the annual Maine Day of Giving event led by the Foundation. Donors Joe and Sue Cyr of Old Town have provided $50,000 to name a...
Why would a couple from Berkley, California who did not attend the University of Maine create a $3.4 million scholarship for Maine's neediest students?Durant Sheffield and his eight sisters all attended school in Thomaston, Maine. Their mother,...