Making a Charitable Bequest By Will or Beneficiary Designation
(Eastern Area Agency on Aging-EIN: 01-0328376)
In your will, or on any account beneficiary designation you can name Eastern Area Agency on Aging or any of our programs or services as your beneficiary.
Choices To Consider With A Gift by Bequest In Your Will or by Beneficiary Designation
When you include a gift to Eastern Area Agency on Aging in your will or by beneficiary designation, you help ensure our mission of serving our older community members and disabled adults across Central Maine while creating powerful benefits for yourself. You can make a charitable bequest or beneficiary designation for a specific dollar amount or for a percentage of your estate or brokerage or qualified retirement account. And you can direct that your charitable gift be used for a specific purpose or that it be used in the most beneficial way for Eastern Area Agency on Aging in the organization’s discretion.
Benefits That Come With a Gift of a Bequest In Your Will
A bequest or gift by beneficiary designation offers key benefits to you as a donor:
- Flexlble: Because a charitable bequest or gift by beneficiary designation comes after your lifetime, you can change your mind should conditions change
- Advantageous: Gifts under beneficiary designations for qualified retirement accounts are tax free and you may receive a charitable estate tax deduction that excludes the amount of your bequest from your taxable estate
- Versatile: Your gift can be for a specified dollar amount or a percentage of your estate’s or the account’s value and you can direct your gift to be used for general or specific purposes
- Significant: Because the gift is made after your lifetime, you can make a significant gift without affecting your current income or cash flow
Note: The information in this website is not intended as legal advice. Eastern Area Agency on Aging strongly encourages you to consult your legal, tax and financial advisors to determine which charitable giving options are best for your individual circumstances.