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April 10, 1998     Cape Gazette
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April 10, 1998

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36 - CAPE GAZETTE, Friday, April 10 - April 16, 1998" Volunteer service games kick off special week on April 18 The Winter Games may be over, but the spirit of the games still burns brightly among Delaware's volunteers. On Satur- day, April 18, 200 volunteers will gather for the Delaware Volunteer Service Games. Instead of downhill skiing and figure skating, these competitors off National Volunteer Week. Sponsored by the State Office of Volunteerism, the event is a day of good-natured competition, food and prizes designed to say "thank you" to Delaware's dedicated vol- unteers. Teams from community service organizations and voluntary agen- Each event focuses on a com- munity activity performed by vol- unteers. One event, for example, tests a volunteer's ability to change hospital bed linens with the patient still lying on the bed. Another challenges the participant to create an arts and crafts project with nothing but a few odds and altogether. The team with the lowest over- all time will be awarded the Spirit of Volunteer Service Cup. Voluntary agencies, church or school service clubs, and corpo- rate volunteer programs are invit- ed to register teams of three to five volunteers for the Volunteer Ser- vice Games. There is no entry fee and a free lunch is provided and prizes will be awarded. For more information about the games, or to register a team, call the State Office of Volunteerism at 800-815-LINK. will be pushing wheelchairs cies from around the state are ex- ends. through an obstacle course and pected to participate. Still another event requires vol- changing in and out of firefight- This year's games will be at the unteers to process and shelve li- ers' gear. Dover Mall and will begin at 10 brary books while answering a The Volunteer Service Games is a.m. They will conclude with an ringing telephone. Participating a fun, competitive event that kicks awards ceremony at 1 p.m. teams must compete in 10 events Castle invites senior citizens to participate in intern program Older Americans with an inter- lives and how their efforts can af- meals (except two lunches), all est in politics are invited to apply feet public policy." seminar and other program activi- for positions in the Congressional Senior Citizen Intern Program in the nation's capital. The program, conducted by the nonprofit, non- partisan Close Up Foundation, al- lows seniors the opportunity to work side by side with those who develop national policy. "Senior interns have the oppor- tunity to visit our nation's capital to witness firsthand the legislative process and gain a practical un- derstanding of how our govern- ment works," said U.S. Rep. Michael N. Castle. "They learn how public policy affects their The program offers an in-depth look at key public policy issues through discussions with mem- bers of Congress, administration officials, members of the Wash- ington press corps and other ex- perts. Also, interns will spend half a day in Castle's Capitol Hill of_ rice, to see firsthand how a con- gressional staff works. The program will be held May 16 through May 23 in Washing- ton, D.C. Included in the $1,000 tuition price are seven nights lodging in a major metropolitan hotel, in-town transportation, all ties, an evening at the theater and more. The program does not in- clude the cost for transportation to and from Washington, D.C. Senior citizens interning for Castle should contact Helen Price of the Congressman's Washington staff at 202-225-4165. The appli- cation deadline is April 18. The honorary chairpersons of the program are Senators Charles Grassley of Iowa and Patty Mur- ray of Washington, and Represen- tatives Ralph Regula of Ohio and Joseph I . Kennedy II of Massa- chusetts. CHEER suggests gifts of real estate Sussex CounW Senior Ser- viceslnc. (CHEER), provides pro- grams and assistance for many of Sussex County's senior citizens through community outreach ini- tiatives. There are a variety of ways to help support CHEER and its mission, including donations of real estate, which offers tax-sav- ing benefits. The method most suitable for making a gift of real estate (resi- dence, vacation or second home, condominium, farm, commercial property, vacant land, etc.) to CHEER depends upon a donor's individual situation and his or her needs and objectives. Real estate can be given as an outfight or de- ferred gift. With a deferred gift of real es- tate, the donor can maintain as much or as little control over the property as desired and can desig- nate how the gift will be used. As- suming the property has been held for a long term, a gift of property to CHEER can eliminate capital gains taxes, reduce real estate tax- es, reduce probate costs, and the donor can take an income tax charitable contribution for 100 percent of the fair market value of the property. Outright gifts of real estate. Outright gifts of real estate are the most common way real estate is given to charitable organizations. The donor can take an income tax charitable contribution of 100 per- cent of the fair market value of the property and, in addition, may eliminate capital gains taxes and reduce estate taxes and probate costs. Gifts of real estate. Gifts of re- al estate are frequently made through a donor's will much like other donor's bequests. Depend- ing on the size of the donor's tax- able estate, tax and probate sav- ings can be substantial. Gifts of real estate using a life payment trust in a will. A donor can combine the advantages of a will and the benefits of a trust by creating a charitable remainder annuity trust. The trust becomes effective upon the death of the donor and makes payments for the lifetime of one or more surviving beneficiary (ies). Life payments through gifts of real estate. An individual or cou- ple can give real estate to CHEER in exchange for a guaranteed life- time income for one or more indi- viduals, usually the donor or the spouse. The donor may eliminate capital gains tax, realize an in- come tax deduction and may even increase the donor's spendable in- come. At the death of the last ben- eficiary, the remaining assets in the trust becom.e available to CHEER. Charitable lead trust through real estate. Real estate can be used to establish a charitable trust. CHEER receives the income from the donor's real estate for an agreed upon period of time, either a specific number of years or until the donor's death, with which the real estate passes back to the donor or to other individuals. This may be advantageous when the property is expected to appreciate in value. Gifts of real estate with a life agreement. A life estate agree- ment enables the donor to give CHEER his or her home, farm, etc., but reserves the right of the donor, spouse or other beneficiary to use or reside on the property for their lifetime. The donor or others retain the full use of the property, but also have the responsibility of maintenance of the property. Af- ter the donor or individuals that are named to the property die, CHEER obtains the property. The donor receives income tax deduc- tions for the present value of the gift and avoids capital gains tax, which usually results in estate tax and probate cost savings. Bargain sale. A bargain sale is a sale of property to CHEER for less than the fair market value of the property. Usually, the donor wants to make a donation to Continued on page 37 CENTER 00'00rinted T- Shirls & Sporlswear Geoff Vernon is now in Independent operation as Logo Artwork Design QuiCk Service " Quality Work Reasonable Prices 645-2959