An inheritance is a gift that a person receives from a cherished family member or friend. An inheritance is a special amount of money that a person receives because their loved one wanted them to have it after they passed away. In a Peoria divorce situation, an inheritance can be one complication of the property […]
Tag: Property Division
A person’s interest in a family business can be hotly contested issue during the Illinois divorce process. For one, it can be difficult for a court to determine exactly how much a family business is worth and how much of its value, if any, should be subject to property division. In many cases, establishing the […]
A previous post on this blog talked about how, in reality, it was a rather amazing thing that the divorce of two well-known real estate moguls ended with an out-of-court settlement. The reason this was remarkable is that investment real estate, especially when the property is used for commerce, is difficult to put a precise […]
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 […]
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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 […]
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, […]
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 […]
It is important for those who are going through a divorce or legal separation, or even some sort of non-marital breakup, to be aware of the difference between market value and sentimental value. The reason is that knowing the difference, and knowing how to recognize each, can be key to getting a fair property division […]