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    Join Date
    Oct 2006
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    Default What is the Value of a Life Estate

    Quote Quoting simplycleanvk
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    My question involves marriage law for the State of: Illinois
    My father is in the middle of a divorce after 30 years of marriage (he is 77) . He built and owned his home before the marriage. His spouses name was never on the deed.
    A few years ago he had a quit claim deed with a life estate made in which stated that when he passes away that the house will go to his wife and after her passing the house will go to his 4 children.
    She is requesting that she receive 60% of what the house is appraised at. During the marriage she did not contribute anything financially to the property or pay any of the household bills over their 30 year marriage
    . How does this apply since her name is not actually on the deed and she has filed for divorce
    I highly doubt that a life estate could be valued at 60% of the value of the house.

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