Give Through Account Beneficiaries
One simple way to leave a legacy gift to MaineGeneral is to name the organization as a beneficiary for remainders of retirement plans, IRAs, donor-advised funds, life insurance or other accounts.
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- Account beneficiaries are easy to modify and offer an ability to maximize tax benefits.
- You can name one beneficiary to receive the entirety of an account, multiple beneficiaries to each receive percentages of an account and/or create contingency beneficiaries.
- Account remainders can be disbursed directly to named account beneficiaries, rather than going through probate with other assets of an estate. The names on an account at the time of the holder's passing dictate the account's disbursal.
Consult with a financial advisor to plan how best to fulfill your desired provisions while minimizing potential tax or legal burden for your beneficiaries. Your relationships with beneficiaries could change as time goes by, so you may wish to regularly review your beneficiaries for each account every few years.
How to Name MaineGeneral as a Beneficiary
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- When you open a new account, complete the beneficiary form available from your plan administrator or through the account's online user portal. To update an account's beneficiaries at a later date, just ask your administrator or check your online portal for a new beneficiary form.
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- If you choose to name MaineGeneral Health or any of our program areas as an account beneficiary, include our legal address of 35 Medical Center Parkway, Augusta, Maine, to help avoid potential confusion with other health care systems:
MaineGeneral Health
35 Medical Center Parkway
Augusta, Maine 04330
Tax ID: 04-3369649
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- MaineGeneral can be named as a beneficiary of either taxable or non-taxable accounts, and can be named as a primary, secondary, or contingent beneficiary.
- Naming a tax-exempt organization like MaineGeneral as a beneficiary of taxable accounts could allow more funding to reach the causes you care about, rather than have those assets taxed on disbursement to an individual or to your estate.
Is naming MaineGeneral as a beneficiary the right legacy gift for you? Please let us know so we can properly thank you and welcome you to the Kennebec Circle!
Have you already included MaineGeneral in your estate plans?
Click here to learn about other ways to leave a legacy. All legacy donors have the opportunity to join MaineGeneral's legacy society, The Kennebec Circle.
Information conveyed throughout this website is offered for general informational and educational purposes only and is not advice. Seek the advice of tax, legal, or financial advisors for applicability to your situation.