The Social Security Benefit is a government program that provides income to individuals who have reached retirement age, become disabled, or are the survivors of a deceased worker. Divorce can have significant financial implications, including affecting an individual's Social Security Benefit. Understanding how divorce can impact Social Security Benefits is important for individuals who are going through a divorce or who have already divorced. This article will explore how divorce affects an individual's Social Security Benefit and provide guidance on how to plan for Social Security Benefits after divorce. Divorced individuals may be eligible to receive Social Security Benefits based on their ex-spouse's work history. To be eligible, the individual must have been married to their ex-spouse for at least ten years and must be at least 62 years old. Additionally, the ex-spouse must be eligible to receive Social Security Benefits themselves. Social Security Benefits for divorced individuals are calculated differently than for married couples. Divorced individuals may be eligible for up to 50% of their ex-spouse's Social Security Benefit. The actual amount of the benefit depends on factors such as the length of the marriage, the age at which the individual begins collecting Social Security, and the ex-spouse's work history. In some cases, a divorced individual may be eligible to receive spousal Social Security Benefits based on their ex-spouse's work history. To be eligible, the individual must be at least 62 years old and must have been married to their ex-spouse for at least ten years. However, if the individual remarries, they will no longer be eligible for spousal Social Security Benefits based on their ex-spouse's work history. If an individual's ex-spouse dies, they may be eligible for Survivor Social Security Benefits. To be eligible, the individual must have been married to their ex-spouse for at least ten years and must be at least 60 years old (or 50 if they are disabled). The actual amount of the benefit depends on factors such as the length of the marriage and the ex-spouse's work history. However, if the individual remarries before the age of 60 (or 50 if disabled), they will no longer be eligible for Survivor Social Security Benefits based on their ex-spouse's work history. Divorced individuals who are eligible for Social Security Benefits based on their ex-spouse's work history have several strategies for maximizing their benefits. These strategies include: Individuals who delay the start of their Social Security Benefits can increase the amount of their monthly benefit. This is because the longer an individual waits to start collecting Social Security, the more their benefit will increase. Delaying the start of benefits can be especially advantageous for divorced individuals who are eligible for spousal Social Security Benefits. Divorced individuals who are eligible for Social Security Benefits based on their ex-spouse's work history can claim benefits on their ex-spouse's record. Claiming benefits on their ex-spouse's record can be advantageous if their ex-spouse has a higher Social Security Benefit than they do. Divorced individuals who are eligible for Social Security Benefits based on their ex-spouse's work history can coordinate their benefits with their ex-spouse. This means that they can choose to claim their own benefit first and switch to their ex-spouse's benefit later if it is higher. Divorced individuals who are eligible for Survivor Social Security Benefits based on their ex-spouse's work history can remarry after the age of 60 (or 50 if disabled) and still be eligible for Survivor Social Security Benefits. Given the complexity of Social Security Benefits and the various factors that can impact the benefit, it is important for individuals who are going through a divorce or who have already divorced to seek professional advice. A financial advisor or attorney who specializes in Social Security Benefits can help individuals understand their options and make informed decisions about how to maximize their benefits. Seeking professional advice can help individuals avoid costly mistakes and ensure that they receive the maximum Social Security Benefit possible. Divorce can have significant impacts on an individual's Social Security Benefit, including eligibility for benefits based on an ex-spouse's work history, the amount of the benefit, and the timing of when the benefit is received. Factors such as the length of the marriage, the age at which the individual begins collecting Social Security, and the ex-spouse's work history can all impact the benefit. Divorced individuals who are eligible for Social Security Benefits based on their ex-spouse's work history have several strategies for maximizing their benefits, including delaying the start of benefits, claiming benefits on their ex-spouse's work record, coordinating benefits with their ex-spouse, and remarrying after the age of 60. Seeking professional advice is important for individuals who are going through a divorce or who have already divorced to ensure that they receive the maximum Social Security Benefit possible.Introduction
Social Security Benefit and Divorce
Eligibility for Social Security Benefit for Divorced Individuals
How Social Security Benefits are Calculated for Divorced Individuals
How Divorce Affects Spousal Social Security Benefits
How Divorce Affects Survivor Social Security Benefits
Strategies for Maximizing Social Security Benefits after Divorce
Delaying the Start of Benefits
Claiming Benefits on Their Ex-Spouse's Work Record
Coordinating Benefits with Their Ex-Spouse
Remarrying After Age 60
Importance of Seeking Professional Advice
Conclusion
How Does a Divorce Affect One’s Social Security Benefit? FAQs
No, your Social Security benefits will not be affected by the legal dissolution of your marriage. However, in certain circumstances, you may be eligible to receive spousal benefits based on your former spouse's earnings record after a divorce.
You must have been married for at least 10 years before the divorce is final in order to qualify for Social Security benefits based on your former spouse's earnings record.
Yes, if you were married for at least 10 years and your ex-spouse is currently receiving their own Social Security retirement benefits. If you are eligible based on the criteria mentioned above, you may collect a percentage of your former spouse's benefit amount or a specified dollar amount, whichever is greater.
Your Social Security benefit will not be affected by a new marriage, but you may be eligible for additional benefits based on your new spouse’s earnings record or other factors.
No, there is no age limit for collecting Social Security benefits as a divorcee. However, if you are under full retirement age when you apply, your spousal benefit may be reduced or eliminated depending on the amount of other income you earn. It is important to consult with the Social Security Administration before applying for benefits.
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.
To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.
