Bequests are an easy, low cost way of supporting Coastal Mountains Land Trust’s mission. Almost any kind of asset may be bequeathed, including cash, securities, tangible personal property, real estate; or a portion or remainder of an IRA, tax sheltered annuity, qualified pension or profit sharing plan.
We urge consultation with an attorney to better understand bequest options, whether creating a new will or amending an existing one. A charitable bequest reduces the value of an estate and therefore reduces both federal and state estate taxes. An attorney can best advise about applicable federal and state laws.
Samples of Bequest Language
“ I give (_ dollars) (or a specific asset) or (_) percent of the rest, residue and remainder of my estate to Coastal Mountains Land Trust, the charitable, tax exempt organization located in Camden, Maine, for its general purposes.”
Bequest for Specific Purposes
“ I give (__dollars) (or a specific asset) or (__) percent of the rest, residue and remainder of my estate) to Coastal Mountains Land Trust, the charitable ,tax exempt organization located in Camden, Maine, to be used for the following purposes (state the purpose):____.”
Note: if you wish to restrict your bequest for a specific purpose, please contact the Development Office in advance to make sure that the language will accomplish your wish and align with Coastal Mountains Land Trust’s needs.
Coastal Mountains Land Trust is a charitable tax-exempt organization under section 501 (c)(3) of the Internal Revenue Code. Tax ID # 22-2795691
To discuss your ideas and intentions, please contact Kathy Young, Development Director. All conversations will be done on a strictly confidential basis.