Why make a solidarity bequest or will to the CARF Foundation?

What is a legacy of solidarity?

The solidarity bequest is a testamentary disposition in favor of a non-profit institution. It is in the will where it is decided to allocate a very specific part of the assets and/or rights to support the objectives of a person, natural or legal. These assets, which are called legacies, are separated from the inheritance and are not subject to distribution among the forced heirs. They can be a specific asset such as a house, apartment, apartment, rural property, etc. or a right such as a benefit, a percentage of the estate, etc.

Bequests have a limit, they can in no case be detrimental to the legitimate inheritance of the heirs. In addition, they must be granted by will and must be expressly indicated.

For the CARF Foundation your collaboration is essential and one way to make it tangible is through the legacy of solidarity. It is a boost in your commitment to the formation of priests, the spreading of their good name and prayer for vocations.

What is a joint and several will?

Article 667 of the Civil Code defines a will as the written declaration of a person's will by which he/she disposes of the destination of his/her assets and obligations, or part of them, after his/her death, depending on the extent to which it was made.

Making a will is a right that entails a simple procedure, with which you can avoid problems for your family and loved ones. The will also serves to order your wishes and be certain that they will be perpetuated when you are gone.
A will is revocable until the time of death. The subsequent valid will revokes the previous one. It can be modified by complying with the same requirements that were necessary to grant the previous one, that is to say, to go to the notary to manifest the changes that are wanted to be made.

Types of wills you can make

The current Spanish legal system includes three ways of making a will:

• Open: In this way, the testator expresses his or her wishes about the destiny of his or her assets before the notary who will draft it according to the legal prescriptions. It is a secret procedure until the death of the testator. The open will is the most advisable modality, as it is the safest and most comfortable as well as the most used.
• Closed: The testator delivers the signed will to the notary in a sealed envelope.
• Ológrafo: It will be written by the testator by hand. But before it is fulfilled, it will be necessary to initiate a notarial procedure to verify its authenticity.

Did you know that you don't need to be a member of the CARF Foundation to leave your will or legacy?

All you have to do is decide to express your commitment to solidarity in the form of a will or bequest. This gesture will always be present, since the CARF Foundation is an institution declared of public utility, your entire bequest or will will will be destined to the foundational purposes of supporting the integral formation of priests and seminarians around the world.

The CARF Foundation will see to it that, when the young men in formation return to their dioceses to be ordained priests, they will be able to transmit all the light, science and doctrine they have received. We try to inspire the hearts of our benefactors and friends so that every day there will be more of us building a more just society.

What can I donate as a legacy of solidarity?

Most of the vocations are born today in countries in Africa or America that lack the means to do so. Every year, more than 800 bishops from all over the world ask the CARF Foundation for help in training their candidates. Leaving part of your legacy of solidarity is easy and accessible, and can be done without affecting the interests of your heirs. When your voice falls silent, your ideals can continue with strength and courage by supporting these candidates so that they can complete their training at the ecclesiastical universities of Rome and Pamplona. You can donate:

• Real estate, such as a house, apartment, apartment, rural property, etc.
• Other assets such as jewelry, works of art, cash in banks or in cash.
• You can also donate a percentage of your assets, mutual funds, stocks or life insurance to the Foundation.

How does the CARF Foundation manage its legacy of solidarity?

The proceeds from the sale of the bequeathed assets will be used for a significant investment. Guaranteeing a secure procedure for the treatment of the bequeathed assets. The constant support to the integral formation of priests and seminarians goes beyond the cycles of the economy. That is why, at the CARF Foundation, we work in the endowment fund (endowment) of the foundation so that we can always support them.

It is a commitment to think that, behind every priestly vocation, there is another call from the Lord to each one of us Christians, asking for personal effort to ensure the means for formation.

How can I make a solidarity bequest to the CARF Foundation?

Depending on your intention and family circumstances, and within the provisions of current legislation, there are several ways to have us present in your last will:

• If you have no heirs, you can name the CARF Foundation as your universal heir, making it the beneficiary of all your assets, rights and/or shares.
• You can also leave your assets to more than one person or institution, you can designate the CARF Foundation as co-heir, indicating in the will the percentage assigned to each of the parties.
• Or, you can nominate the CARF Foundation. legatee, leaving a legacy of a concrete good.

Once you have made the decision to collaborate by making a will or solidarity legacy in favor of the CARF Foundation, you only need to go to a notary and express your will to testament or bequeath, all or part of your assets in favor of:

Centro Académico Romano Foundation
Conde de Peñalver, 45, Entre planta of 1 - 28006 Madrid
CIF: G-79059218

If your personal circumstances or intention change, your final decision can always be modified, you can contact the Foundation with any questions you may have.

The solidarity bequest is a tax-exempt donation.

In the liquidation of the will, non-profit entities are not subject to the Inheritance and Donations Tax set forth in the Decentralization Act 49/2022 and therefore joint and several legacies are tax exempt for the beneficiaries.

The totality of the donated bequest is entirely dedicated to the purposes of the CARF Foundation, which is why the allocated portion will be tax exempt.