“I give and bequeath to Preble Street, a Maine nonprofit corporation, Fifty-five Portland Street, Portland, Maine, the sum of $ ___________ to be used for the general purposes of the agency (or to be used for a specific purpose such as endowment).”
“I give and bequeath to Preble Street, a Maine nonprofit corporation, Fifty-five Portland Street, Portland, Maine, all (or stated percentage of) the rest, residue, and remainder of my estate to be used for the general purposes of the agency (or to be used for a specific purpose such as endowment).”
A contingent bequest names Preble Street to receive part or all of your estate in the event your designated beneficiaries predecease you. You might insert in your will language such as the following: “If any beneficiary named in this will is not living at my decease, then I give, devise, and bequeath to Preble Street, a Maine nonprofit corporation, Fifty-five Portland Street, Portland, Maine, any bequest which said beneficiary would have received if he or she had survived me.”
Gifts Through Other Vehicles
Here are some other options to discuss with your lawyer and/or financial planner:
Charitable Gift Annuities
Preble Street offers Charitable Gift Annuities (CGA) to give donors financial security while making a substantial donation. A transfer of cash or securities to a CGA provides secure fixed payments for life.
- Immediate CGAs are available to donors once they reach the age of 65, with a minimum gift of $25,000.
- Deferred CGAs are available to those who are younger than 65, with a minimum gift of $15,000.
Gifts By Trust
You can also consider establishing a trust to contribute to Preble Street. Trusts can be either revocable or irrevocable. Under the Internal Revenue Code, there are tax advantages to various trusts which your legal, financial, and/or tax advisors can assist you in maximizing. Please contact your legal, financial, or tax advisor to learn more.
