Planning Workbook
One of our Board Members, Joseph Moser, Esq., is an attorney in Northport, Maine. He often shares this workbook with his clients to help them make their estate plans. Joe has made this workbook available for the Society to share with you. We encourage you to use this helpful tool, let us know if Preachers' Aid is among your priorities, and consult your attorney while making your own estate plans to decide what is right for you.
Wills & Estates
Include the Preachers’ Aid Society in your will or estate planning. Specific dollar donations, percentage gifts, and remainder legacies over the years have empowered us to grow from a tiny charity into the full service support ministry you have come to know. Through the Society, your bequest will live as an enduring reminder of your love for your church and the pastors who have loved, cared for, and supported you. To include Preachers’ Aid in your legacy, simply ask your attorney to include one of these clauses in your will:
Specific Dollar Amount:
“I hereby give, bequeath and devise to the Preachers’ Aid Society of New England, 51 Charles Wesley Court, Wells, Maine the sum of $ _____.”
Percentage Gift:
“First. I give bequeath and devise to Preachers’ Aid Society of New England, 51 Charles Wesley Court, Wells, Maine ten percent (10%) of my overall estate.” Feel free to adjust the percentage to make it fit with your wishes.
Remainder Legacy:
“Finally. I give bequeath and devise to Preachers’ Aid Society of New England, 51 Charles Wesley Court, Wells, Maine all of the rest, residue and remainder of my estate, both real and personal, to be used for its general support.”
Under many circumstances, property may also be left to the Society.
If you choose to include Preachers' Aid in your will/estate planning, please let us know. It would be deeply encouraging and meaningful to hear your story directly. Please do not hesitate to call if you have any questions or concerns.
Gift Annuities
Gift Annuities have the wonderful advantage of helping both the Society and the donor at the same time. Gift Annuities provide the donor with three immediate advantages:
- A generous tax deduction is available in the year of the gift (or can be spread over several years),
You will receive a fixed payment from the Society at very attractive rates for as long as you and/or your second annuitant live.
Generally a portion of your income from the Society is exempt from income taxes for a number of years following your donation.
We use rates recommended by the American Council on Gift Annuities and your income is fully secured by the assets of the Society. Our gift annuity commitments to net asset ratio make us one of the most secure places to establish your gift annuity program.
For information on our Gift Annuity Program, please contact our Executive Director or Gary Melville at the United Methodist Foundation of New England (UMFNE) - our Gift Annuity administrators.
Trusts
There are a variety of different giving vehicles by way of a trust. Consider what your goals are for income to your family, tax implications, and giving to Preachers' Aid Society. Once you have those goals in mind, we will work with you to identify the best giving tool. Thanks to our partners in planned giving, the United Methodist Foundation of New Engalnd (UMFNE), here are some links that describe the advantages of four of the most popular trusts:
Charitable Remainder Unitrust UMFNE Website →
Charitable Remainder Annuity Trust UMFNE Website →
Life Insurance
If you have a Life Insurance policy, but the beneficiary has either passed or no longer needs this for security, consider gifting it to the Preachers' Aid Society today and take advantage of a charitable income tax deduction, or keep the policy and designate the Preachers' Aid Society as the beneficiary of the policy. We welcome your call to discuss these options 207-467-3246 and encourage you to speak with your tax attorney to decide which model is best for you.
Retirement Plans
From a tax perspective, one of the most effective ways to pass along your assets upon death may be to leave your retirement plan assets to a non-profit organization like the Preachers' Aid Society of New England. Retirement assets left to heirs may be taxed significantly (as much at 50-60%) depending on the initial design of the plan (pre-tax or post-tax contributions). To make the greatest impact with your planned gifts, you may want to consider leaving your retirement assets to your favorite non-profit organization, who will receive assets tax free, and leaving your heirs your real estate and stock assets which could offer them a step up in basis.
Learn Even More
Contact us! We would love to setup a visit, listen to your hopes, and help you explore the options before you.
Call: 207-467-3246
E-mail: mailto:info@preachersaid.org
Preachers' Aid Society partners with the United Methodist Foundation of New England (UMFNE), the Conference experts on planned giving, to administer gifts of this nature. Their website has the most up to date options for making planned gifts, so if self directed research is what you seek, learn more about...
What to Give on the UMFNE Website →
How to Give on the UMFNE Website →
Creating your Plan on the UMFNE Website →
“Cases for Support Through a Planned Gift
Cathy and Richard MacGovern
When Cathy and Richard MacGovern got married, they realized they needed to update their wills. They worked with a lawyer who understood that creating or revising a will is the right time to think about planning your charitable legacy. During the discussion about their estate, they discovered they could make a gift to benefit their favorite charities and also provide them some future income. A charitable gift annuity will offer them regular income during their retirement and is partially tax free for their expected lifetime. Their lawyer then asked Cathy and Richard which charities they might wish to honor. They quickly identified three ministries: Trinity United Methodist Church in Springfield, MA, the Preachers’ Aid Society, and the United Methodist Foundation of New England. Cathy and Richard strongly believe in the continuing future of these three ministries that represent many of their favorite memories, spiritual journeys and professional careers.
Sally and Ted Poland
Upon receiving her share of her grandmother’s trust, Sally and her husband Ted began to explore creative ways to manage and maximize this new resource. They wanted to increase their income, but also wanted to support one of their favorite ministries. They felt the Preachers’ Aid Society of New England does the most good of any organization they were familiar with in New England.
Naming the Preachers’ Aid Society as beneficiary, Sally and Ted chose the creative giving vehicle of a charitable gift annuity. By entering a gift annuity contract, they receive quarterly payments for the rest of their lives. As adult recipients of her grandmother’s generosity and creative financial planning, Sally and Ted improved their own personal finances and completed a philanthropic gift benefiting a ministry they are delighted to support. Sally and Ted have continued her grandmother’s legacy of creative stewardship!”