Lorenzo Owns a Certificate of Deposit with Maria, His Sister

question 33

Essay

Lorenzo owns a certificate of deposit with Maria, his sister, and a commercial building with Navarro, his brother, in both cases as a joint tenant. Lorenzo, a partner with Othelia in Lorenzo & Othelia Physicians, obtains a life insurance policy with Othelia as the designated beneficiary. Lorenzo writes a will that gives particular items of personal property, as well as specific amounts of cash, to his children and his friends. The will leaves the residue of the estate to Paulina, Lorenzo's favorite cousin. Navarro dies. Lorenzo, on his own deathbed, makes a gift to the United Way. Will the certificate of deposit, the commercial building, the proceeds from the life insurance policy, and the gift to the United Way become part of Lorenzo's estate and be distributed under the will? If not, how will these items be distributed and to whom?​

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Definitions:

Subordinate Development Levels

Refers to the varying degrees of competence and commitment exhibited by team members that necessitate different leadership approaches.

Situational Leadership

A leadership style that proposes the effectiveness of a leader is determined by their ability to adapt their approach based on the situation or maturity level of followers.

Commitment

The state or quality of being dedicated to a cause, activity, or goal, often manifesting in willingness to give time and energy to something believed in.

Motivation

The internal or external factors that stimulate people to take actions that lead to achieving a goal.