It recently became public that the 12-year marriage between two people who are giants in the commercial real estate market in another state legally ended. Both of the parties are well-connected to the world of big real estate deals, and they both have accomplished a lot in their own right. Each of them is likely […]
Author: Linda Watson
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What is non-marital property?
In Illinois, courts are required to divide up a couple’s marital property in the event of a divorce or separation. Basically, marital property is just about any asset, or debt, that either party either owns or owes. This is so without regard to who purchased the asset, who legally owns it or who spent most […]
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Income imputation and child support
If you are paying child support to your former partner, this is likely to be a significant strain on your finances. If your ex-spouse does not work, you may feel frustrated by what you might consider as a lack of effort on their part. It’s likely that you will wonder about the options available to […]
While figuring out child support is never an easy task, it is relatively simple when both parents work a traditional job and earn a paycheck. Especially if their paychecks are predictable, calculating child support is a matter of applying the Illinois Child Support Guidelines to each parent’s salary. However, when a Peoria, Illinois, parent works […]
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What is the right of first refusal?
The phrase right of first refusal means different things depending on what area of law one is discussing. In the world of family law, the right of first refusal refers to the option of one parent to watch a couple’s children when the other parent needs child care. The right of first refusal can be […]
There a lot of reasons why a doctor in the Peoria area may need to figure out how much her medical practice is worth, assuming of course that she is in business for herself. For example, she may wish to break off from her partners to take a new and better direction in her career, […]
The divorce process forces you to spend a good amount of time learning more about your assets and debts. It’s common to focus most of your attention on property division, such as who gets the house and cars, but you shouldn’t sweep your debt under the rug. Neglecting to tackle this head on can result […]
Child support is supposed to cover many of the daily expenses that Peoria, Illinois, parents incur when they are trying to raise their children, expenses such as clothing, food and the cost of shelter, not to mention other important costs like education and even the occasional gift or treat. When parents are living apart, the […]
Many couples in the Peoria area may enjoy collecting fine art both from already famous artists as well as from those who may be up and coming in the art world. People with the money to do so may find this hobby quite enjoyable for a number of reasons. When a married couple decides to […]
A previous post on this blog talked about the special issues that get raised in allocation of parental responsibilities cases where domestic violence is an issue. To summarize that post, the good news, or bad news, for parents is that a credible accusation of domestic violence, even when no criminal charges are filed, will be […]