Illinois Community Prope (by Ray-N-Pa [PA]) Sep 26, 2022 7:40 PM
Illinois Community Prope (by 6x6 [TN]) Sep 26, 2022 7:51 PM
Illinois Community Prope (by 6x6 [TN]) Sep 26, 2022 7:52 PM
Illinois Community Prope (by WMH [NC]) Sep 26, 2022 7:52 PM
Illinois Community Prope (by Ray-N-Pa [PA]) Sep 27, 2022 8:24 AM
Illinois Community Prope (by DJ [VA]) Sep 27, 2022 1:04 PM
Illinois Community Prope (by Ray-N-Pa [PA]) Sep 27, 2022 4:59 PM
Illinois Community Prope (by Ray-N-Pa [PA]) Posted on: Sep 26, 2022 7:40 PM Message:
I am wondering, is Illinois a community property state? If one spouse passes on, does the other gain all rights to what was left behind from the deceased spouse?
I a curve ball was thrown at me this weekend.
--24.101.xxx.xxx |
Illinois Community Prope (by 6x6 [TN]) Posted on: Sep 26, 2022 7:51 PM Message:
From a web search
IL is not a community property state --73.113.xxx.xxx |
Illinois Community Prope (by 6x6 [TN]) Posted on: Sep 26, 2022 7:52 PM Message:
It is common law --73.113.xxx.xxx |
Illinois Community Prope (by WMH [NC]) Posted on: Sep 26, 2022 7:52 PM Message:
Found this:
"In Illinois, the intestate laws are as follows: Deceased person is survived by spouse and descendants: the spouse receives half the property and the children split the remaining half. Deceased person is survived by spouse and no descendants: the spouse receives the entire probate property."
Was there a will? --74.110.xxx.xx |
Illinois Community Prope (by Ray-N-Pa [PA]) Posted on: Sep 27, 2022 8:24 AM Message:
I went out to do a surprise inspection/visit at the Pizza Hut to see how business was doing. I saw some issue.
I was then surprised.
I didn't expect the owner to have died seven weeks earlier.
They are still paying, the business is open but is limping on by. --24.101.xxx.xxx |
Illinois Community Prope (by DJ [VA]) Posted on: Sep 27, 2022 1:04 PM Message:
Uh Oh!
At least you have some warning now.
Hope it works out --68.229.xxx.xxx |
Illinois Community Prope (by Ray-N-Pa [PA]) Posted on: Sep 27, 2022 4:59 PM Message:
Its all good - or it should be.
This lease expires on 1/1/23. The store generates seven figures in revenue annually. I was counting on this family renewing, but hey the poor widow is overwhelmed now. She operates two stores and four shifts with a limited amount of help.
My guess is another franchisee will want to buy her out. Without the husband there though, I do the quality shift downward --24.101.xxx.xxx |
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