YOUR 850 DIVORCE LAWYER

Property Division

Dividing Property

Who Gets What in a Florida Divorce?

Fair doesn’t mean equal. We’ll help protect what matters, with clarity, strategy, and a steady hand. Florida follows equitable distribution, meaning the court divides marital assets fairly, but not necessarily equally. Whether your case is contested or cooperative, you need to know what’s considered marital property, how it can be divided, and how to avoid costly mistakes, especially with taxes.

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Know What’s Subject to Division

What Counts as “Marital Property”?

Florida Statute § 61.075 defines marital property as:

Property, income, and assets acquired during the marriage
Joint bank accounts and investment accounts
Homes, vehicles, and real estate purchased during marriage
Retirement plans and pensions earned while married
Debts incurred together — or in either spouse’s name for marital benefit

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Protecting Non-Marital Assets in Divorce

What Is Non-Marital Property?

Non-marital assets usually include:

Property owned before the marriage
Inheritance or gifts to one spouse
Personal injury settlements (with limits)
Items protected by a valid prenup or postnup

Important: If non-marital assets are mixed into joint accounts or used for shared expenses, they may lose protection.

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Fair Doesn’t Always Mean Equal

Florida’s Property Division Factors

While the starting point is 50/50, courts may adjust based on:

Each spouse’s contributions to the marriage
Intentional waste or hiding of assets
Economic needs and earning potential
Debts and liabilities
The best interests of minor children (e.g., awarding the marital home)
Any binding written agreement between the parties

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The Assets That Matter Most

Common Assets Divided in a Florida Divorce

Assets We Commonly Divide:

Marital Homes & Real Estate
Cars, Boats & Recreational Vehicles
401(k), IRA, Pensions, TSP (Military)
Business Ownership Interests
Stocks, Bonds, Crypto
Credit Cards & Personal Loans
Furniture, Tools, Jewelry & Collectibles

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Avoid Costly Tax Mistakes When Dividing Property in Divorce

Tax Implications of Property Division

Selling or Keeping the Home

Capital gains tax may apply if the home is sold after divorce (beyond IRS exemption thresholds)
Who gets to claim mortgage interest deductions post-divorce?

Retirement Accounts & Pensions

Early withdrawal from 401(k) or IRA without a qualified domestic relations order (QDRO) can trigger penalties and income tax
Pension division must comply with both ERISA and Florida law

Investments & Brokerage Accounts

Dividing appreciated assets can result in capital gains taxes when later sold
We ensure cost basis and holding periods are properly transferred or disclosed

Child-Related Tax Issues

Who gets to claim child tax credits, head of household status, or dependency exemptions?

Debt Transfers & Forgiveness

Canceled debt (e.g., a forgiven credit card balance) may count as taxable income
Assigning debt without tax planning may hurt credit or increase liability unfairly

Business Ownership Division

Selling or transferring a business may involve depreciation recapture, self-employment tax issues, or pass-through taxation

From Clarity to Compliance

How We Protect Your Financial Future

Identify marital vs. non-marital assets
Work with tax professionals when needed
Ensure all division terms are legally enforceable and IRS-compliant
Prevent future disputes over ambiguous terms or tax liabilities
Build settlement language that supports your long-term financial stability

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Who We Serve

Proudly Representing Families Throughout the Florida Panhandle

From the coast to the Wiregrass line, we provide trusted legal representation in:

Bay County (Home Base):

Panama City
Panama City Beach
Lynn Haven
Callaway
Mexico Beach
Springfield
Parker

Surrounding Areas:

Jackson County
Marianna
Graceville
Sneads
Gulf County
Port St. Joe
Wewahitchka
Calhoun County

Blountstown
Altha
Washington County
Chipley
Vernon
Holmes County
Bonifay
Ponce de Leon

Wider Northwest Florida & Panhandle Region:

Walton County
Defuniak Springs
Freeport
Santa Rosa Beach
Okaloosa County
Fort Walton Beach
Crestview
Niceville

Santa Rosa County
Milton
Navarre
Escambia County
Pensacola
Cantonment
Gulf Breeze

Whether you live in Panama City or commute in from across the Panhandle, we offer virtual consultations, flexible scheduling, and personalized legal support from a team that understands Northwest Florida values.

See What Our Clients Say

Honest Feedback From Those We’ve Represented

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Although I have not needed a divorce, I have utilized other legal services that Justin assisted me with. He was professional, knowledgeable, and easy to work with. He explained everything clearly and made the process smooth and stress-free. Based on my experience, I would confidently recommend Justin to anyone in need of legal support, including all family law matters.

Liane DeBoard

I recently moved my business to Panama and Justin was incredibly helpful in providing legal guidance to get things started. He was knowledgeable, professional, and generous with his time. Highly recommend him for anyone needing legal support in the area.

Escape D’amour

I can’t say enough good things about Justin. From the very first meeting, I felt heard, respected, and supported. And Laramie the office manager he is just so caring that makes you feel like part of the family. 🙏Justin and his team went above and beyond for me during a difficult point in my life. They were responsive, compassionate, and truly fought for my best interest.💪 If you need an attorney who actually cares — this is the place. Highly recommend!

Carmen Argueta Yacaman

Justin Andersson is an outstanding attorney. He is professional, responsive, and truly cares about his clients. I was always kept informed and he actually answered my phone calls (or called me back quickly)! Highly recommend his firm to anyone in need of honest and effective legal assistance.

DON MCCOY

I strongly recommend Attorney Andersson as your attorney if you are looking to protect your assets or consider a divorce. He is very diligent, pays a great attention to the details and goes above and beyond for his clients.

Anastasiia Diedkova

Justin and his team are diligent and extremely pleasant to work with. I recommend their legal services to anyone in need.

Stephen Matheny

I would highly recommend hiring Justin Andersson for your legal needs. He went above and beyond to help our family with legal needs.

glen warren

Mr Andersson took on a very unique case for one of my clients. His research , discovery , and timely manner was impeccable. I highly recommend his service.

GG Richardson

Justin is very knowledgeable of the law and gives great advice.

Phil Skeen

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Ready to take the next step?

Use the form to get in touch. Send a message, and let’s discuss how I can support you through your legal matter.

850-871-7397
info@850DivorceLawyer.com
239 East 4th Street
Panama City, FL 32401

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850-871-7397
info@850DivorceLawyer.com
239 East 4th Street
Panama City, FL 32401

Disclaimer: The information on this site is not legal advice and does not create an attorney-client relationship. Past results do not guarantee future outcomes. Justin Andersson is not board certified in marital and family law by The Florida Bar. For full details, please see our Legal Disclaimer page or email info@850DivorceLawyer.com to request a copy.