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Photo by Peter Lindquist
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Friends & Neighbors: Al & Marnie Pease
Marnie and Al Pease have roots in Midcoast Maine that run deep and wide. Last year they made a decision to connect their commitment to the communities and the people of Maine to their financial and charitable planning. They have established a Charitable Gift Annuity with the Pen Bay Healthcare Foundation.
Al was born and raised in Wiscasset. Marnie was raised in Hampden. They met at the University of Maine and during the summers of his college years, Al owned and operated "Al's Eats," the predecessor of the wildly popular "Red's Eats" on Route 1in Wiscasset.
Marnie joined him there during summers of his graduate school years and after military service -- Al taught military justice at Fort Benning, Ga., during the Korean Conflict. After Al attended law school at Boston University, the couple moved back to Wiscasset to raise their family. Marnie ran a nursery school and taught Kindergarten while Al established a law practice, then served as a judge on the District Court of Maine for 15 years, retiring as its Chief Judge.
Marnie and Al moved to Tenants Harbor in 1981, and then built a home in Camden recently to be closer to their children and four grandchildren.
Marnie has served as an incorporator of Pen Bay Healthcare for many years and is pleased with such recent initiatives as the acquisition of the new multi-slice CT scanner and the recruitment of physicians in a range of specialties.
She volunteered for 10 years at the front desk of Penobscot Bay Medical Center in Rockport and in the Emergency Department.
"I loved that!" she said. "I think the people who work there are so caring and obviously like their jobs. They like where they are."
Marnie also helped found Hospice of Lincoln County, part of the Kno-Wal-Lin Home Health Care and Hospice, and served as a hospice volunteer while living in Tenants Harbor.
The Peases currently volunteer for the Georges River Land Trust and at the Rockport Public Library, while Al also does web site development for local nonprofits and volunteers at the Knox County Law Library.
Last spring, Marnie and Al attended a program on philanthropic planning sponsored by Pen Bay Healthcare at the Anderson Inn at Quarry Hill in Camden. During the session, local experts spoke about lifelong investments, estate planning and options in planned gifts.
"We had begun to think seriously about estate planning," said Marnie.
"Marnie is the comptroller," explained Al.
When they learned about the options available through a gift of appreciated securities, they spoke with Phil McKean, the Director of Planned Giving at Pen Bay Healthcare.
They learned that a Gift Annuity based on their present ages would provide them with a contract paying 6.4 percent a year, and they would also be able to receive a significant portion of their income tax-free. Further, 38 percent of their gift could be included as an itemized charitable deduction from their income tax.
They completed their Gift Annuity in 2005, and found that it not only is "the gift that gives back," but that it also entitled them to be Charter Members of the Pen Bay Healthcare Legacy Society.
Now they can join periodically with others to learn about local healthcare initiatives and services, and meet Mainers who have planned, like them, to be good neighbors to others in their community. The Peases hope their membership in the Legacy Society will encourage others to explore how beneficial and satisfying a Planned Gift can be.
Copyright © Pen Bay Healthcare Foundation, All rights reserved. The information on this site is not intended as legal, tax or investment advice.
For such advice, please consult an attorney, tax professional or investment professional.
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