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Lewes, Delaware
Jim's Towing Service
March 6, 1998     Cape Gazette
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March 6, 1998
 

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CAPE G, Friday, March ff -  I2,T998 ," 38 .... CHEER suggests gifts of securities when planning simm0000:l Gifts of securities, such as stock, corporate and municipal bonds, certain government bonds and mutual funds, given to CHEER, may provide consider- able advantages to the donor and to CHEER. The donor pays no capital gains tax and the donor may use the fair market value of the securities on the date of the gift to compute the income tax deduction. CHEER re- ceives the benefit of the full mar- ket value of the gift. Appreciated securities. Gifts of appreciated longterm securities (those securities held longer than one year) can save the donor both income tax and capital gains tax. The donor may use the fair market value of the securities on the date of the gift to compute the income tax deduction. If the income tax deduction is larger than the donor can use in one year, the donor may.carry over any excess deductions for up Obituaries Continued from page 32 Millsboro, died Saturday, Feb. 28, 1998, in Beebe Medical Center. Mrs. Witman was employed as a sales clerk at the Ames Depart- ment Store in Rehoboth Beach for six years, retiring in 1991. She enjoyed reading. She was preceded in death by her husband, Lester H. St. Clair, in 1950, and by two sons,. Dale and James St. Clair. She is survived by two daugh- to five successive tax years. Depreciated securities. Securi- ties that have depreciated in value will most benefit the donor if they are sold first and the proceeds contributed to CHEER. The donor may then claim a capital loss for the depreciation. If the securities were given directly to CHEER, the gift income tax de- duction would be the same, but no capital loss could be claimed. Gifts of securities may be mailed or hand-delivered to the CHEER office or delivered through a stock broker. Valuation of gifts of stock. The value of the gifted stock is the av- erage of the high and low selling prices of the stock as traded on a major stock exchange on the date of the gift. For over-the-counter securities, the average between the closing bid and asked prices on the date of the gift determines the gift value. ters, Karen King of Linwood, Pa. and Kathleen Elliott of Harris- burg; a son, Lester St. Clair of Millsboro; a sister, Elenor Teter of Millsboro; a brother, Albert Grissinger of Harrisburg; six grandchildren; and nine great- grandchildren. Services were held at the Harbe- son Cemetery, Harbeson. George R. Shoop, operated restauram George R. Shoop, 83, of Dover died Tuesday, March 3, 1998, of heart failure in the Christiana The date of the gift is deter- mined in one of the following ways: If the securities are hand-de- livered to CHEER, generally the day on which this occurs. If mailed, the postmark date on the envelope, assuming it is re- ceived in due course and in nego- tiable form. If made through a broker, the date of transfer to a CHEER ac- count. The advantages of giving secu- rities are many. Here's just a few: Most donors will receive an income tax charitable tax deduc- tion for the full market value of the gifted securities. Donors who make gifts of long-term appreciated assets avoid capital gains taxes. If a donor's gift reduces the size of their estate, estate taxes and probate costs may be reduced. Gifts of securities are relative- ly inexpensive to process and easy Hospital, Newark. Mr. Shoop was born Feb. 10, 1915, in Enola, Pa. He and his wife owned and op- erated the Shoop's Family Restau- rant in Corry, Pa., He was a store manager for Eckerd Drugs in Wilmington. He was also a store manager for J.B. Hunter Department Store in Wilmington and Virginia Beach. He retired in 1975 and moved back to Dover in 1992 after living in Florida for several years. He was a member of the Mason- ic Lodge in Corry, Pa. He was preceded in death by his to accomplish. Donors may be able to make a larger gift to CHEER, through ap- preciated securities than by other means. Donors can specify how gift can be used by CHEER Donors gain satisfaction from knowing their gift supports an outstanding organization and may qualify for membership in one of the CHEER Foundation Honor Organizations. Clients, volunteers and other friends often wish to help support and expand CHEER services by providing financial assistance. The manner in which a donor chooses to support CHEER is a matter of personal preference. For this reason, CHEER offers a vari- ety of programs to ensure the greatest benefits for both donor and CHEER. For more information, call 856- 5187. wife, Jeanne G. Simpson Shoop, on Jan. 13, 1995. He is survived by a son, Ron Shoop of Newark; a daughter, Donnalou Martin of Lewes; three grandchildren; and one great- grandchild. Services will be at 11 a.m., Sat- urday, March 7, in the Torbert Fu- neral Chapel, Reed and Bradford streets, Dover. Burial will be private. Contributions are suggested to the American Heart Association, Kent County Division, 625 S. State St., Dover, DE 19901 An exclusive rate for everybody. OPEN WITH JUST $2,500 PREMIUM RATE FOR A LIMITED TIME A GREAT OPTION FOR YOUR ROTH OR TRADITIONAL IRA CALL 1-800-222-0246 Right now with just $2,500, you can open a 6-month CoreStates CD and get the premium rate usually reserved for our Blue Ribbon customers. And while you're at it, you might want to look into becoming a Blue Ribbon customer yourself-to get rates like this and other valuable banking benefits. Call the Direct Banking Center at 1-800-222-0246, 24 hours, 7 days a week, or stop by your nearest branch. 12I mm LllND|fl 0oreStates www.corestates.com The Annual Percentage YId is accurate as of tile date of this newspa0. Eady w;lrawal    .     to    t  a  operg depo o $500. Oiler  also avable to r,n-Bfue Ribbon cuome with a mkmt opdng   .    t  .    YNdd for non-BJe RilXx customers with le thin1 $2,500  4.85%. $500,000 Imnit per oustomw'.   to   t.  . N. Merr F[;. on ads bcamt/ Impo.rt00d Italian Cerannc Woodstove by PIAZZETTA SALE q 699 (reg. $2300) SUSSEX STOVE, CO. Jim Seibert, Owner 645-7808 641 Hwy. One Lewes MECCA. JERUSALEM. ROME. CLEVELAND. Or Boston. LA. Topeka. Any place can be a center of religious thought. Because the search for truth doesn't begin in a city, it begins in a person. At the Unitarian Universalist Church, we encourage you to follow your own path to wisdom. Join us this Sunday, as we draw upon the teachings of Catholicism, Judaism, Humanism, and many others. The Unitarian Universalist Church. It's for people who question. People who think. And for people who don't like really, really long flights. Sunday, March 8, 1998 10:30 a.m. Service Lewes Middle School Multi Purpose Room Savannah Road, Lewes 422-8187 I of your class with I 'ArE-00GAZ00rr_E[