Individuals who include Sweetser with a planned gift help create a legacy of support for future generations. In doing so, you become a member of the Cornelius Sweetser Heritage Society. If you are considering including Sweetser in your will or trust, or have already established a planned gift to Sweetser, please let us know so we can recognize your generosity. Call our Director of Development, Todd Henry, at 207-294-4484.
Leaving a bequest to Sweetser allows you to make a substantial contribution without diminishing the assets available to you during your life. Since bequests are deductible from your taxable estate, significant estate tax savings are possible. In addition, a bequest is simple to make and can be stated as a dollar amount, percentage of your estate, or a designation of specific property.
In exchange for a gift of money or securities, Sweetser will pay you and/or a loved one a fixed amount annually for the rest of your life. A portion of this income is not taxed, and you also receive a charitable deduction for part of your gift as calculated with IRS tables.
Pooled Income Fund
Gifts to the Sweetser Pooled Income Fund are invested into the fund, together with gifts from other donors. The income earned each year is shared among the participants. You incur no capital gains tax on the transfer to the fund of appreciated long-term securities. You also receive a charitable deduction for a portion of your gift as calculated with IRS tables.
Charitable Remainder Trust
You can use an irrevocable trust to provide yourself and/or a loved one with a fixed annual income, or an income which varies with the value of the trust. Part of your gift qualifies for an income tax deduction, as calculated with IRS tables. Upon the death of the last income beneficiary, the remainder of the trust is distributed to charity.
Charitable Lead Trust
You can support Sweetser for a term of years or for the life of an individual by creating a charitable lead trust. Income will be paid to Sweetser and/or the charities of your choice each year during the term of the trust. When the trust terminates, the assets in the trust revert to you or to individuals you wish to benefit.
When you donate a life insurance policy to Sweetser, the cash surrender value of the policy or the cost of a replacement policy, is deductible as a charitable contribution. If you continue to pay premiums after your gift, these premiums are also deductible.
Naming Sweetser as a beneficiary of your retirement plan is one of the most cost effective gifts you can make since all income and estate taxes are avoided. Retirement assets are typically one of the largest sources of wealth in a person’s portfolio, though often overlooked as a charitable giving opportunity.
For more information about planned giving, contact Todd Henry, Director of Development:
Mail: 50 Moody Street, Saco, Maine 04072
Please consult your tax advisor or attorney for specific advice.
What Our Clients Are Saying
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