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What is a joint and several will?

The solidarity will of the CARF Foundation is a very special and personal way of helping the Church to form diocesan priests, seminarians and religious from countries with scarce resources, contributing to their support and studies for their integral formation.

This involves including a charitable cause in your will, either by designating one or more non-profit institutions or NGOs as heirs to all your assets or by leaving a portion with a specific bequest.

When you decide to convert your will in a will of solidarity, which includes the CARF Foundation, you are permanently supporting our commitment to continue forming future generations of priests.

Thanks to your testament of solidarity, your generosity keeps alive the effort to achieve a better world for Christians and non-believers alike, for the priest is no respecter of persons or creeds when it comes to helping another human being in any part of the world. Your life and legacy will be perpetual.

How is a joint and several will made?

Inform yourself and reflect

Think about what you would like to give up. Any contribution will have an impact in the lives of the people we help and who, in turn, help hundreds of thousands in their countries of origin. If you need more information or to resolve any questions, we offer you free legal advice and with full confidentiality.
Go to the notary
In order to draw up a joint and several will, you will have to make an appointment with the notary. It is the best way to to ensure that your will will be faithfully fulfilled in the future. Don't forget correctly include the CARF Foundation's data and, above all, remember to save a copy.
Let us know
If you have decided to include the CARF Foundation in your will, please let us know so that we can carry out your wishes. In addition, we recommend that you tell someone you trust so that, when the time comes for your departure to Heaven, you may communicate it to us.

The identification data necessary to include the CARF Foundation in the will or solidarity bequest are:

ROMAN ACADEMIC CENTER FOUNDATION
CIF: G-79059218
Conde de Peñalver, 45. Mezzanine, Office 1
28006 Madrid

What can I leave as an inheritance?

Example of joint and several wills and legacies received.
Donate
financial assets
A specific amount of money from checking accounts, securities, funds, bonds, stocks...
Donate
total or partial inheritance
A percentage of your total estate or designate the CARF Foundation as your sole heir.
Donate
real estate
Houses, apartments, apartments, land, garages, buildings...
Donate
movable goods
Works of art, automobiles, jewelry and other valuables.

FAQ: other doubts about joint and several wills

How is a solidarity will made and how much does it cost?

First of all: reflect and inform yourself to make the decision that best suits your personal situation, with which you feel comfortable and, above all, that reflects your will. If you need information to make a solidarity will, from the CARF Foundation we can help you and even offer you free legal advice. Once you have it clear, you should make an appointment at a notary's office, so that they can draw up a joint and several will according to what you decide and according to the law. Once you have reviewed and included the correct data of the CARF Foundation, you must sign it. At the notary's office you can ask for a copy of your will so that you can keep it in a safe place. Once you have made your solidarity will, we recommend that you communicate it to us, and send us a simple copy so that we can use it when necessary. The CARF Foundation guarantees you total privacy in everything related to your will.

What is a legacy of solidarity?

It is the assignment to a natural or legal person of one or more assets (real estate, cars, works of art, jewelry, etc.), of certain benefits, of a percentage of the estate or of certain specific rights. These assets, which are called legacies, are separated from the inheritance, and are not subject to distribution among the heirs. The concession of a joint and several legacy can only be made by means of the will and by indicating it in an express form and with a limit: it can in no case prejudice, in any case, the legitimate of the forced heirs.

Can I leave part of a will or a solidarity bequest to the CARF Foundation, even if I have children?

Yes, you can do it as if the CARF Foundation were another child of the family. According to the law for this purpose, you will be able to dispose of the third of free disposition of the joint and several inheritance. Apart from the exceptions established in the foral laws, as long as there are descendants (children, grandchildren, etc.) entitled to the inheritance, the law establishes that the inheritance is divided into three parts. The first, the one-third of the legitimate share, is divided among the children in equal parts. If one of them is deceased, his descendants inherit by right of representation, also in equal parts. The second, the third of improvement: the testator has certain availability on this part at the time of awarding it. It must be distributed among the children and descendants, but not necessarily in equal parts. It can benefit some over others. Finally, the third of free disposition: the testator can leave it to whomever he wants, be it a relative or not, and it can also be a legal entity such as the CARF Foundation. On this part the testator can decide with absolute freedom. If there are one or more institutions with which you have always felt identified, you can choose to include them in the solidarity will.

Who are the forced heirs of a joint and several will?

These are the persons to whom the law recognizes the right to inherit at least a portion of the estate of the deceased person by means of the so-called legitimate portion of the joint and several will. The forced heirs are, in the first place, the sons and daughters (both natural and by adoption, matrimonial and non-matrimonial) and their descendants (grandsons and granddaughters, etc.). In their absence, the fathers and mothers and ascendants. On the other hand, the widow or widower will inherit in the manner established by law. If there are no forced heirs, in your will you can freely dispose of the entire estate in favor of whomever you decide.

If at some point I change my mind, can I change my joint and several will?

The will can be changed as many times as you want. There are no legal limits on the number of changes. As it is a completely personal document, you will not have to give explanations to anyone. You only need to contact your notary's office and draw up a new joint and several will. The most recent will is the one that will have legal value.

How can I include the CARF Foundation in my will?

There are different ways to include the CARF Foundation in your solidarity will, depending on your circumstances. You can name the CARF Foundation as your universal heir, giving it all your assets, rights and shares. If you want to leave your assets to more than one person or institution, you can name the CARF Foundation as a joint heir by assigning each party in your will the percentage you want each party to inherit. You can leave the CARF Foundation a bequest, that is, something specific, a share. It can be a specific amount of money, a percentage of the total value of the estate, a real estate property or other assets such as works of art, antiques, jewelry, cars, financial assets, etc.

Does inheritance tax affect the inheritance or solidarity bequest made in favor of the CARF Foundation?

The CARF Foundation is a legal entity and, as such, is not subject to inheritance tax. Likewise, since we are a non-profit organization declared of public utility, the income we receive from inheritances and solidarity bequests are exempt from inheritance tax. This means that the legacy or part of the inheritance you give to the CARF Foundation will never be reduced by these taxes, and the totality of your contribution will be entirely dedicated to the purposes of the Foundation.

What information do I need to include in order to name the CARF Foundation in my solidarity will and make it valid?

The identification data necessary to include the CARF Foundation in the will or solidarity bequest are the following: CENTRO ACADÉMICO ROMANO FUNDACIÓN with CIF: G79059218, located at calle Conde de Peñalver, 45. Entreplanta, oficina 1. 28006 Madrid.

How does the CARF Foundation know that a person has made a solidarity will or bequest in its favor?

The notary's office that has authorized the joint and several will is obliged, at the moment it becomes aware of the testator's death, to notify the appointment to the non-profit entities that appear in it. If the will has an executor appointed, the executor must notify all the beneficiaries of the will of his appointment, since he is obliged to enforce the will of the deceased. If there is no executor, the heirs must agree, because, in the partition of the estate, all the beneficiaries included in the will must be present, since, otherwise, such partition could not be made. Anyway, if you decide to include the CARF Foundation in your solidarity will, please let us know. Call +34 914 029 082 or send us an email to [email protected]. Having this information and your details also allows us to have a fluid contact and share with you our news and events. Maintaining this contact and relationship is a way for us to keep you involved in our challenges and to better understand what you are interested in knowing about our work of forming diocesan and religious priests and seminarians to serve the Church throughout the world.

What happens if a joint and several will is not made?

If the deceased person has not made a joint and several will and has not established who will be his or her heirs, the law will appoint them, following an order of kinship. In case of absence of the heirs designated by law -the legal heirs-, the law designates the Spanish state as heir. You decide who you want to inherit in the future.

Can I include the CARF Foundation in an insurance policy?

Yes, you can include the CARF Foundation as a beneficiary of a life insurance policy. If you wish to support the foundation and its purposes in this way, you must inform your insurance company. In this case, we also ask you to inform us of your decision so that, when the time comes, we can make it effective.

A tax-exempt donation
Tax treatment
In the liquidation of a joint and several will, non-profit entities are exempt from the Inheritance and Gift Tax and therefore joint and several wills or bequests are tax exempt for the beneficiary.

All the value of what you wish to donate will be destined to its work objective: to train diocesan and religious priests and seminarians to help the Church around the world. Therefore, the portion allocated by you to the CARF Foundation is tax exempt.. Thus, the totality of the bequest will be entirely dedicated to the purposes of the Foundation.
Legislation
What are the funds used for?
The proceeds from the sale of its assets will be used for a significant investment. This will contribute to the integral formation of priests and seminarians from all over the world. It commits us to think that behind every priestly vocation, there is another call from the Lord to each one of us Christians, asking for a personal effort to ensure the means for formation.
Annual Report 2022
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