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Posts tagged "Property Division"

Is a spouse entitled to inheritance money in Illinois?

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 division portion of a divorce settlement.

What might happen to my business after my divorce?

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 value of a closely held business will require the assistance of an appraiser or other expert.

Valuing investment real estate is a tricky prospect

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 value on. Beyond just the possible sale price, one has to also consider whether and to what extent the property can bring in rental income.

Putting a value on a doctor's medical practice

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, or she may have a hospital or larger practice interested in acquiring her patients and her expertise.

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