Citrus County Property Division Attorney
More than 20 years of Florida legal experience. Based in Crystal River and representing divorce clients throughout Citrus County in property division and equitable distribution matters.
Property division is often one of the most important parts of a divorce. Decisions involving a home, retirement accounts, businesses, savings, debts, and other property can affect your financial future long after the case ends.
Attorney Steven D. Fichtman helps clients identify what is at stake, understand the difference between marital and nonmarital property, evaluate financial information, and develop a strategy for protecting their interests.
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How Property Is Divided in a Florida Divorce
Florida uses a process known as equitable distribution to divide marital assets and liabilities. The court begins with the premise that marital property and debt should be divided equally unless the circumstances justify an unequal distribution.
In practical terms, the questions include: What do the parties own? What do they owe? Which assets and debts are marital, which are nonmarital, what are they worth, and how should they ultimately be divided?
The process can become more complicated when a divorce involves real estate, retirement accounts, businesses, disputed values, separate-property claims, or allegations that assets have been wasted or concealed.
Marital Property and Nonmarital Property
Property division begins by determining which assets and liabilities are marital and which are nonmarital. Assets acquired and liabilities incurred during the marriage are generally presumed to be marital unless a party establishes otherwise.
Nonmarital property may include property owned before the marriage, certain inheritances, certain gifts from third parties, assets or liabilities excluded by a valid written agreement, income from nonmarital assets in some circumstances, and other property that can be traced and established as nonmarital under Florida law.
Classification can become more complicated when marital funds are used to pay debt on nonmarital property, when a nonmarital asset increases in value during the marriage, or when marital and nonmarital funds are mixed together. Tracing records can therefore be critical.
How Fichtman Law Approaches a Financial Divorce Case
- Identify the Assets and Debts — We begin by identifying the property, accounts, liabilities, and financial interests that may need to be addressed, including assets held individually, jointly, through a business, or in retirement or investment accounts.
- Gather and Organize the Records — Our firm uses structured workflows to gather records, track missing information, identify disputed items, and organize the evidence needed for negotiation, mediation, or trial.
- Separate Classification From Value — Two different questions often have to be answered: Is the asset marital or nonmarital, and what is the asset worth? A disagreement over either issue can materially affect the final distribution.
- Develop a Strategy Before Taking a Position — Sometimes the better approach is obtaining additional records, requesting an appraisal or valuation, tracing funds, negotiating a practical division, or narrowing disputed issues before court involvement.
Resolution When Possible. Litigation When Necessary.
The Marital Home and Other Real Estate
Real estate is frequently one of the largest assets in a divorce. Property division may require decisions about whether a home should be sold, whether one spouse can retain it, how equity will be divided, whether refinancing is feasible, and how mortgage obligations and carrying costs will be handled.
A real-estate issue may also involve claims that part of the property’s value is nonmarital because it was owned before the marriage, inherited, gifted, or acquired using separate funds.
These issues should be evaluated carefully before agreeing to a sale, refinance, transfer, or credit.
Retirement Accounts and Pensions
Retirement benefits accrued during the marriage can be marital assets even when the account or plan is titled in only one spouse’s name.
A divorce may involve 401(k) plans, pensions, deferred-compensation plans, IRAs, annuities, military retirement benefits, or other retirement interests.
Dividing retirement benefits may require specialized orders or plan-specific procedures. The value and method of division should be addressed carefully before the settlement or final judgment is completed.
Businesses and Professional Practices
When either spouse owns a business, professional practice, or closely held company, property division may require analysis of ownership, value, income, business liabilities, retained earnings, and whether the business or a portion of its value is marital.
In more complicated cases, valuation professionals, accountants, or other experts may be necessary to provide reliable financial information.
Bank Accounts, Investments, and Other Financial Assets
Property division can include checking and savings accounts, brokerage accounts, investment assets, stock, deferred compensation, cryptocurrency, cash-value interests, and other financial property.
The title on an account does not necessarily determine whether the asset is marital. The timing and source of funds can matter.
Debt and Marital Liabilities
Equitable distribution involves liabilities as well as assets. Credit cards, mortgages, vehicle loans, personal loans, tax liabilities, and other debts may need to be classified and allocated.
A court’s allocation of a debt between spouses does not necessarily change the rights of the creditor. Settlement terms involving debt, refinancing, indemnification, and payment responsibilities should therefore be drafted carefully.
Dissipation, Waste, and Depletion of Assets
Florida law allows the court to consider certain intentional dissipation, waste, depletion, or destruction of marital assets when determining equitable distribution.
When a party alleges that marital funds were spent improperly, transferred, hidden, or depleted, the timing, purpose, records, and surrounding circumstances can become important. These claims should be supported by evidence rather than assumption.
Valuation: What Is the Property Worth?
Some assets have an obvious value. Others do not. Real estate, businesses, pensions, unique personal property, and certain investments may require additional analysis or expert valuation.
The appropriate valuation date can also matter when a business, account balance, market value, or other asset changes over time.
Can Property Be Divided Unequally?
Florida courts begin with the premise that marital assets and liabilities should be divided equally, but an unequal distribution may be appropriate when the evidence and statutory factors justify it.
Relevant considerations can include the parties’ economic circumstances, the length of the marriage, contributions to the marriage and to the acquisition or enhancement of assets, career or educational sacrifices, the desirability of retaining certain assets intact, the marital home, dissipation of assets, and other circumstances necessary to reach an equitable result.
Resolving Property Issues by Agreement
Many property-division disputes are resolved through negotiation or mediation rather than trial. A practical settlement may allow the parties to divide assets in a way a court might not structure on its own.
Before signing, you should understand what property exists, how it is classified, what it is worth, what debt is attached to it, and what financial obligations the agreement creates.
Reviewing and Drafting Property Settlement Agreements
A marital settlement agreement can determine who receives property, who assumes particular debts, what happens to the marital home, how retirement assets are divided, whether refinancing or sale is required, and what obligations continue after the divorce.
Fichtman Law can assist with negotiating, drafting, and reviewing property-division provisions so that you understand what the agreement requires before you sign it. We also represent clients when enforcement becomes necessary after an agreement or judgment has been entered.
When Financial Discovery or Court Intervention Is Necessary
Sometimes the information needed to evaluate property division is incomplete, disputed, or unavailable voluntarily. Formal discovery may be necessary to obtain account records, business information, tax documents, valuation evidence, or other financial information.
If the parties cannot resolve classification, valuation, or distribution issues, the court may ultimately decide them.
In contested financial cases, our focus is on organizing the records, identifying the disputed issues, and presenting the evidence needed to support the client’s position.
Property Division Questions Clients Commonly Ask
Who handles property division in a Citrus County divorce?
Fichtman Law represents divorce clients throughout Citrus County in equitable distribution and property-division matters involving homes, retirement accounts, businesses, investments, debts, and other marital or nonmarital property. The firm is based in Crystal River.
What does equitable distribution mean in Florida?
Equitable distribution is Florida’s process for identifying, classifying, valuing, and dividing marital assets and liabilities in a divorce. The court begins with the premise of equal distribution unless the statutory factors justify a different result.
Is everything divided 50/50 in a Florida divorce?
Florida courts begin with the premise that marital assets and liabilities should be divided equally, but the court may order an unequal distribution when the evidence and statutory factors justify it.
If an asset is only in my spouse’s name, can it still be marital?
Yes. Title alone does not determine whether an asset is marital. Assets acquired during the marriage are generally presumed marital unless established otherwise under Florida law.
Can I keep property I owned before the marriage?
Property owned before marriage may be nonmarital, but issues can arise if marital funds were used to pay debt on the property, improve it, or if marital and nonmarital interests became mixed. The records and history of the asset should be reviewed.
What happens to my retirement account in divorce?
Retirement benefits accrued during the marriage may be subject to equitable distribution. The method of division depends on the type of plan and the terms of the settlement or judgment.
Do we have to sell the house?
Not necessarily. Depending on the circumstances, the house may be sold, awarded to one spouse subject to appropriate financial arrangements, or otherwise addressed by agreement or court order.
What if my spouse owns a business?
A business or professional practice may require analysis of ownership, marital and nonmarital interests, value, income, liabilities, and other financial issues. More complicated cases may require valuation or accounting professionals.
What if I think my spouse is hiding or wasting money?
Financial records may need to be obtained and reviewed. Florida law allows the court to consider certain intentional dissipation, waste, depletion, or destruction of marital assets, but the claim should be supported by evidence.
Should I sign a property settlement agreement my spouse gave me?
Before signing, you should understand what property and debt the agreement addresses, what obligations it creates, and how it affects your rights. A signed agreement incorporated into a final judgment can have lasting consequences.
How do I choose a property division attorney in Citrus County?
Consider whether the attorney regularly handles Florida divorce and equitable-distribution matters, understands financial records and valuation issues, explains the process clearly, and prepares carefully. Fichtman Law is based in Crystal River and represents clients throughout Citrus County.
More Than 20 Years of Florida Legal Experience
Steven D. Fichtman has practiced law in Florida since 2005 and has spent more than two decades representing clients in Citrus County.
Fichtman Law is located in Crystal River and represents divorce and family-law clients throughout Citrus County, including Crystal River, Inverness, Lecanto, Beverly Hills, Homosassa, Homosassa Springs, Hernando, Floral City, and surrounding communities.
Talk With a Citrus County Property Division Attorney
Property division can have long-term financial consequences. Before agreeing to a division of assets or debts, it is important to understand what property exists, how it may be classified, what it is worth, and what the proposed resolution means for your financial future.
Contact Fichtman Law to discuss the property and financial issues involved in your divorce and the appropriate next steps.