Join our Cultivators Circle and make farms part of your legacy with a planned gift to Maine Farmland Trust. Whatever stage of life you are in, planned giving is one of the most impactful ways you can support MFT’s work. You may be able to save on taxes, receive income for life, or enjoy other financial benefits - all while helping keep Maine agriculture vibrant and growing for years to come. To speak with MFT staff about a planned gift, please contact us at (207) 338-6575 or firstname.lastname@example.org.
Everyone needs a legal will, but fewer than 30% of people have one because creating one can seem daunting or expensive. Even if you are not able to include Maine Farmland Trust in your will at this time, please take 20 minutes to fill one out using FreeWill, a free resource for you, to protect your loved ones and property.
- Updating Your Will or Trust
The most common way to leave a gift to MFT is through your will or trust. Bequests for MFT can be for a specific dollar amount or property, a part or all of your residuary, or as a contingent beneficiary.
If you already have a will or trust, you may update it to designate a percentage, dollar amount, or asset to be given to MFT. Please consult an attorney to include MFT in your will, trust, or codicil, or use our free resource, FreeWill. If you have already included MFT in your plans, please let us know.
- Sample Bequest Language
To include MFT in your will or estate plans, we suggest the following language: “I hereby bequeath _____ (specify an amount, specific property, fixed percentage, or percentage of your residuary) to Maine Farmland Trust, a Maine nonprofit corporation with a principal business address of 97 Main Street, Belfast, Maine 04915, Federal tax ID #01-0528014, for its general use and purpose.”
- Life Insurance Policies
Life insurance policies are another simple way to designate MFT as a primary or contingent beneficiary. You may also donate the policy itself by naming MFT the owner and beneficiary of the policy. Please consult with your life insurance provider for instructions on how to proceed, or use FreeWill as a resource.
- Retirement Plan Assets
Perhaps the simplest way to designate MFT in your estate plan is through your retirement accounts (IRA, 401K, 403B or other qualified retirement plans). Whether you designate MFT as a primary or contingent beneficiary, these gifts simplify your planning and eliminate expensive legal fees, as well as reduce the burden of estate taxes on your family. We encourage you to visit FreeWill, a free and online planning resource, to get started. You can also consult with your retirement plan administrator to obtain the forms necessary to make a gift to MFT.
- Charitable Gift Annuities
Charitable Gift Annuities and Deferred Charitable Gift Annuities are a way to provide you and your loved ones with income for life while providing a future gift to MFT. MFT partners with the National Gift Annuity Foundation to administer all gift annuities. Contact MFT staff at (207) 338-6575 to learn more about how a gift annuity may produce an income for life for you or your loved ones.
- Charitable Trusts
Other charitable trust arrangements could work for you to provide income for life, an immediate income tax deduction, and, depending on the funding asset, other tax savings as well. If you have already established a charitable trust arrangement, please consider adding MFT as a beneficiary. Please consult with your advisor to further explore these options.
- Retained Life Estate
You can deed your home or farm to MFT while retaining the right to use for yourself and others you name in the deed. You keep the use and control of your home or farm during your lifetime(s), and when the owners of the life estate have passed away, your home or farm will belong to MFT and be sold or transferred to further our charitable work.