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.
Know What’s Subject to Division
What Counts as “Marital Property”?
Florida Statutes Section 61.075 defines marital assets and liabilities to include:
- 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 during the marriage (generally up to the date the divorce petition is filed or a valid separation agreement is signed), together or in either spouse's name
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.
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., letting the children stay in the marital home)
- Any binding written agreement between the parties
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
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
- A 401(k) or pension is usually divided by a qualified domestic relations order (QDRO), while an IRA is divided by a transfer under the divorce judgment. Cashing out instead of transferring can trigger income tax and, before age 59 1/2, an early withdrawal penalty.
- Pension division must comply with the plan's own rules and the federal law that governs it (for example, ERISA for most private-employer plans and the USFSPA for military retired pay), as well as Florida law
Investments & Brokerage Accounts
- Dividing appreciated assets can result in capital gains taxes when later sold
- We address cost basis and holding periods in the transfer documents and disclosures
Child-Related Tax Issues
- Who gets to claim the child tax credit and head of household status?
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
- Draft division terms to be enforceable and consistent with IRS rules
- Reduce the risk of future disputes over ambiguous terms or tax liabilities
- Build settlement language that supports your long-term financial stability
Dedicated to Your Future
WHY CHOOSE JUSTIN ANDERSSON, P.A.?
- Clarity, Strategy, and Real Guidance
- Focused on Divorce & Family Law
- Honest Communication
- Personalized Support
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.
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Schedule a Consultation
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