THE LEGACY OF SOLIDARITY

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The legacy of solidarity refers to a way of making a charitable donation to non-profit organisations, through the inclusion of a clause in a person's will that provides for an amount of money or a percentage of their estate to be donated after their death. One of the main advantages of making a charitable gift through a charitable bequest is that it can be an effective way of supporting a cause or organisation that is important to the person, even after their death. In addition, A solidarity bequest may have tax benefits for the donor's estate, depending on local tax laws. However, there are also some disadvantages and important considerations to bear in mind when planning a legacy of solidarity. For example, it is important to ensure that the chosen charity is properly registered and reputable, to avoid possible fraud or misappropriation. In addition, it is important to note that a charitable bequest is not a flexible way to donate money to charities, as once it is established in the will, it cannot be easily changed.

In a nutshell, a charitable bequest can be an effective and meaningful way to support a cause or charity after a person's death, and can have tax benefits for the donor's estate. However, it is also important to bear in mind the disadvantages and important considerations when planning a legacy of solidarity.

ADVANTAGES

Advantages of THE SOLIDARITY LEGACY for the donor

The main advantages of the solidarity bequest for the donor include the following:

1. It allows the donor to continue to support a cause or organisation that is important to him or her, even after his or her death.
2. It is a way of ensuring that the donor's wealth is used in a meaningful and beneficial way for society.
3. It can provide a sense of personal satisfaction and fulfilment knowing that your legacy will help improve the lives of others.
4. Depending on local tax laws, a solidarity bequest may have tax benefits for the donor's estate, reducing the taxes that the heirs must pay.
5. It can be a way of leaving a lasting mark on the world, remembering the donor for their generosity and commitment to a cause.

In a nutshell, a charitable bequest is a meaningful and lasting way to support a cause or charity that is important to the donor, and can provide tax and personal benefits to the donor's estate.

Advantages of Legacy Solidarity for NGOs

Among the main advantages of the legacy of solidarity for NGOs are the following:

1. It provides a steady flow of long-term funding, enabling them to plan and carry out projects and programmes more effectively.
2. It helps NGOs to achieve their long-term goals, such as poverty eradication, disease control and environmental protection.
3. It provides a stable and reliable source of funding, which can be used to finance specific projects or to cover the organisation's general costs.
4. It can increase the visibility and reputation of the organisation, which can attract more donors and volunteers.
5. It can help NGOs diversify their funding sources and reduce their dependence on individual donations or government grants.

In a nutshell, Legacy of solidarity can provide a stable and reliable source of long-term funding for NGOs, enabling them to plan and implement projects and programmes more effectively. It can also increase your visibility and reputation, help diversify your funding sources and achieve your long-term goals. The solidarity bequest is a figure of the will that allows a person to leave a specific provision, separate from the other provisions of the will, in favour of an NGO, foundation, non-profit entity or religious entity. The assets attributed to the bequest can be of any nature and are given free of encumbrances, i.e. without the beneficiary assuming any debts associated with them.

Among the advantages of a charitable bequest for the donor is the possibility to contribute to a charitable cause that matters to him or her and to help those most in need, with the satisfaction of having left a lasting legacy. In addition, This figure allows the donor to plan his succession and reduce the tax burden of the inheritance, as donations to non-profit entities have tax benefits. For their part, NGOs and other charities can benefit from the legacy of solidarity by receiving financial support to enable them to develop their social work, and thus achieve greater financial stability and plan their projects more effectively and in the long term.

As for the limits of the joint and several legacy, these are determined by the rights of the legitimated beneficiaries, who are certain relatives to whom the applicable legislation recognises and reserves the right to receive a portion of the assets of the inheritance. It is therefore important to visit a notary in order to plan the will and the joint and several legacy properly and to know the limits that exist in each case. In a nutshell, The legacy of solidarity is a useful and effective tool for both the donor and the charities, provided that it is configured in a detailed and concrete way to ensure its scope and effectiveness.