Winter 2017

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PATRONS | Winter 2017 21 FUTURE FOCUS Planned Gift Gave Couple Peace of Mind WRITTEN BY TABITHA HOGUE A lfred and Rozelyn Redisch had three passions in life: family, philanthropy and travel. e couple, who passed away in 2012 and 2015 respectively, never did anything by halves. eir enthusiasm for travel led them to take more than 125 cruises during their lifetimes. eir love for their community and for Torrance Memorial Medical Center steered them to donate their home to the medical center, through a retained life estate. is type of planned gift, arranged with the Torrance Memorial Foundation, enabled them to live in their home during their life- times, while passing the deed to the hospital as part of their estate plan. According to their nephew, Steven Patler, the Redisches were longtime southern Cali- fornia residents, who moved to the state from Detroit after the end of World War II. He re- members a couple very much in love who had a good life together. "ey had the perfect marriage," he recalls. "He adored her." Rozelyn, or "Roz," worked as a travel agent. She traveled with her husband extensively through Europe, Southeast Asia and South America. Alfred, or "Al," worked as a podi- atrist for 50 years with a private practice in Torrance. He was selected as "Podiatrist of the Year" by the California State Podiatry Society. He also served as president of the Lions Club in Torrance. He had the quieter disposition. Roz was an extrovert who would tell jokes and be the life of the party, according to Patler. "When you were with her, you would re- member her because of her personality," he recalls. "She lit up the room. When she went on cruises, people wanted to sit with her on the boat, and she made lifelong friends." Although Al and Roz liked going on ad- ventures together and living life to the full- est, they were also careful with their money and were avid investors. Patler remembers Roz going to brokerage firms back in the days when they had ticker tapes. "e brokers were always men and she was the only woman sitting there watching what was going on," he says. "She would talk to them and get tips from them on how to invest." e Redisches had one son, Stanford. He was close to his parents and passed away from cancer several months after his mother died. Torrance Memorial is one of three charities benefiting from his parents' remaining estate. Al and Roz were pleased with the care they received at Torrance Memorial. Roz would rave about how well she was treated by its staff, Pat- ler remembers. Leaving their home and a third of their remaining estate to the hospital allowed them to benefit a place where they knew pa- tients received quality care. e retained life es- tate arrangement also yielded them significant tax benefits while they were alive. It gave Roz peace of mind that her son, Stan, wouldn't have to worry about putting the house on the market and selling it himself. Between the retained life estate donation and the third of their estate donated to the hospital, the total impact of their gift is close to $4 million, explains Patler. "It's a significant donation," says Lau- ra Schenasi, executive vice president of the Foundation at Torrance Memorial. "Planned gifts have a huge impact." Schenasi first got to know the Redisches about 12 years ago, when they approached Torrance Memorial about setting up the retained life estate. "ey were lovely, kind people," she re- calls. "ey thoroughly enjoyed life and loved to travel. ey were grateful for the care they received here. ey knew that upon their passing, their estate gift to Torrance Memorial was going to improve health care for their community." THE 411 ON A RETAINED LIFE ESTATE A retained life estate provides immediate tax advantages as a gift of real estate and allows you to continue living in your personal residence for your lifetime. You can irrevocably transfer your personal residence to Torrance Memorial but keep the right to occupy the home for the rest of your life. You continue to pay real estate taxes, maintenance fees and insurance on the property. Even though we would not actually take possession of the residence until after your lifetime, since your gift cannot be revoked, you receive an immediate federal income tax charitable deduction for a portion of your home's value.

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