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Life Income Plans - Charitable Remainder Trusts

With an irrevocable trust, a donor or a loved one can receive a fixed annual income or an income that varies with the value of the trust. At the death of the last income beneficiary, the assets in the trust are distributed to the Foundation to be used as designated by the donor. Trusts may be funded by gifts of cash, securities or real estate and can frequently help donors solve a particular problem or meet an important objective:

Here’s how:

With the help of appropriate advisors, you transfer property (cash and/or other assets) to a trust that is created under applicable state and federal laws. You may specify that payments from the trust be made to you and/or one or more other persons for life. Alternatively, you may choose to receive income for a period of time up to 20 years, or certain combinations of lives and terms of years. The amount of income received may be fixed at the time the trust is created or the trust can be created in such a way that the income can fluctuate over time with the performance of the assets in the trust. At the end of the trust period, the property remaining in the trust becomes the property of the University of Maine Foundation for the purposes you designate. Because property transferred to the trust will be used for charitable purposes in the future, gift, estate and income tax deductions equal to the value of the gift portion of the trust are allowed in the year of the gift.

The University of Maine Foundation has professional giving officers ready to work with you and your advisors. We may be reached Monday-Friday between the hours of 8 am and 5 pm by calling 1-800-982-8503 or via email at umainefoundation@maine.edu.

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Contact Information

Office of University Development
101 College Avenue
Orono, ME 04473
Phone: (800) 671-7085 or (207) 581-1151
The University of Maine
Orono, Maine 04469
207.581.1110
A Member of the University of Maine System