What will be your legacy? How will you be remembered? How will you have made a difference?
Each of us will ask ourselves these types of questions one day. Of course, this leads to thinking about family, community, and what has been meaningful in one's life. If Maine's special cultural heritage has been important to you, consider including Maine Maritime Museum in your estate planning and help the Museum's mission in a lasting way.
Planned gifts are typically classified by what asset is transferred (such as life insurance or real estate) or by the legal vehicle used (like a will or trust). Common forms of acceptable gifts are cash, publicly traded stock, life insurance policies, and retirement accounts.
The Museum has Gift Acceptance Policies that explain in detail what types of gifts can and cannot be accepted. Please contact us to request a copy, or for more information.
Most commonly, an individual will name Maine Maritime Museum in his or her will, bequeathing a set dollar amount or set percent of the estate to benefit the Museum. (e.g., I hereby give and bequeath the sum of $25,000 to Maine Maritime Museum; or I order and direct one-half of my estate to be distributed to Maine Maritime Museum.)
Some people set up trusts to assist with their estate planning. A trust is a separate legal entity, and assets placed irrevocably into a trust are no longer part of a person’s own estate and thus avoid the probate process. Trust assets typically generate income to benefit that individual, or other named beneficiaries, until the time of the individual’s death; then the residual is transferred to a charity so designated in the trust. There are many ways to structure a trust to maximize tax savings, provide for one’s family and ultimately provide for a named charity; consult your estate planning attorney or contact your state’s bar association for a referral.
The Museum established the Capt. W.J. Lewis Parker Leadership Society to recognize and acknowledge those individuals who have made planned gifts benefiting the Museum. Let us know about your planned gift and become enrolled in the Society.