Most retired or older individuals do not know how their social security benefits are calculated so it is common for them to overlook how their divorce affects it. Because it is a crucial retirement asset and can make for an easier transition, social security allows a divorced individual access to their ex partner’s benefits government requirements are met. Divorcees can collect on their ex’s Social Security retirement benefit if they were married more than 10 years or are at least 62 years of age, not eligible for a higher benefit, or are currently unmarried. However, in order to collect an ex spouse’s benefits, the former partner must be eligible for benefits and at least 62 years as well. The pair must be divorced for at least two years. An ex spouse does not need to be receiving social security benefits for their ex partner to collect the benefits. Even if the ex who is receiving benefits gets remarried within two years, it will not affect the an individual’s right to divorce social security benefits. It will also not affect the ex or their current spouse’s social security benefits. In the event you need to gain legal advice on this subject matter, do not hesitate to contact a social security lawyer Memphis TN trusts.
Divorcees may receive up to half of their former partner’s full benefits. It may even be less if benefits are taken before age 62, which is the full legal retirement age. Unless an individual was born between 1943 and 1954, in which the retirement age is 66. If individuals divorce and their marriage only lasted 9 years and eleven months long, benefits may not be claimed by either partner on the other’s behalf. Divorcees may claim either their own benefit or their former spouse’s benefit, depending on which amount is higher. Divorcees and retirees may also be able to claim both their own and their ex spouse’s benefits. Many divorced spouses get the most out of their social security benefits by filing for their divorced spousal benefits at 66 years old, but then switching to their own benefits at 70 years old.
Divorcees should also know that if their former spouse dies after 10 years or more of marriage, they will become eligible for survivor benefits. Divorced survival benefits are worth up to 100 percent of what was supposed to go to the deceased former spouse. These benefits are available to be claimed by divorced spouses as young as 50 years of age if they are disabled, or 60 years of age if not. However, if a divorcee remarries before they turn 60, they will become immediately ineligible lest the marriage ends. If the divorcee remarries after they turn 60, their eligibility will not be affected at all.
Thank you to Darrell Castle and Associates, PLLC for providing insight on how a divorce can affect your social security benefits.