“Everyone Wins” with Gift Annuities

Marv Patrick has come a long way from the days when he was milking cows on a Minnesota farm. Retired after 30 years in the aerospace industry, Marv and his wife of 52 years, Lore, enjoy an active lifestyle from their ocean-front Redondo Beach property, with frequent trips to their condo in Hawaii.
Marv, who continues to dabble in real estate, considers himself to be a “student of business.”
“I look for business situations where everyone wins,” says Marv. “I do my research and stay well informed on tax provisions. My research inspired me to create a charitable gift annuity benefiting Torrance Memorial Medical Center.”
“When I learned the facts about gift annuities, it was clear that they provided that important ‘win-win’ financial opportunity,” adds Marv. “There were obvious benefits – my wife and I enjoy a guaranteed steady income stream, we receive tax breaks and the interest rates are better than many other investment opportunities.”
“I have been a patient at Torrance Memorial on several occasions,” continues Marv, “and I was impressed with the level of care I received. It is a good, honorable organization that deserves our support.”
“At this point in our lives, we enjoy giving back to our community,” says German-born Lore, who is an exercise enthusiast and amateur painter. “We have raised two sons and traveled the world. Now it’s time to help foster organizations that are good for our community – and Torrance Memorial is certainly one of those!”

A Host of Benefits
A charitable gift annuity to Torrance Memorial provides a host of benefits, including:

• Guaranteed Income – Fixed guaranteed income stream for you and an additional life.
• Tax Benefits – Partially tax-free income, a charitable tax deduction and lower estate taxes.
• Philanthropic Support – Help Torrance Memorial continue to provide top quality care for generations to come.
• Safety – Backed by the full faith and credit of Torrance Memorial.
• Flexibility – Create gift annuities with cash, securities or real estate, arrange for immediate or deferred payments.

“Creating a charitable gift annuity was ideal for the Patricks,” continues Joe. “They were able to give their support to Torrance Memorial and enjoy significant financial benefits. And the minimum gift amount is $10,000, so people can be philanthropists without being millionaires!”
The amount that gift annuities pay out depends on the age of the donor. Annuitants must be age 60 or older. Gift annuities have strict technical requirements that need the knowledge of experience advisors like the members of Torrance Memorial’s Professional Advisory Council.

For information about gift annuities, call Joe Ward, director of Gift Planning for the Torrance Memorial Health Care Foundation, at 310-784-4843 or e-mail joe.ward@tmmc.com. In addition to gift annuities, Joe can assist individuals with giving opportunities such as CRTs, bequests, charitable gift annuities and estate planning that provides income, contributions and tax savings, as well as benefits for Torrance Memorial.