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:

Personality Differences

Variations in the patterns of thinking, feeling, and behaving that distinguish individuals from one another.

Humans

Homo sapiens, the species of bipedal primates to which all modern human beings belong, characterized by a highly developed brain.

Dogs

Domesticated mammals known for their loyalty and companionship, commonly kept as pets or used for work in various fields.

Western Cultures

Western cultures refer to societies that are rooted in the histories, social norms, and values of Western Europe and other regions influenced by European immigration, characterized by a focus on individualism and democracy.