How does divorce affect your Social Security benefits?
During the pandemic, did you find yourself asking the hard questions about your marriage and came to the decision that a divorce would be the best path forward?
If so, have you considered the collaborative divorce process?
This model provides spouses with a team of experts in the financial, legal, and communication fields working together with both of you finding a way to forge an agreement that addresses all of your concerns and is agreeable to each of you.
One of the things they will discuss is how your social security benefits will be affected. And here are a few points from the Social Security Administration they will share with both of you:
If you are divorced, your ex-spouse can receive benefits based on your records (even if you have remarried) if:
- Your marriage was 10 years or longer
- Your ex-spouse has not remarried and is older than 62
- Your ex-spouse will receive the higher benefit based on their work history and your work history
- You are qualified to receive Social Security retirement or disability benefits
- If your ex-spouse has passed away, you may be able to receive the survivor benefit
During the process, a neutral financial advisor will take an in-depth look at your financial landscape, draft an overview of how your finances will be affected and provide options regarding the best asset division for both of you.
Our team at Family Divorce Solutions is comprised of experienced, licensed and trained attorneys, mental health professionals and financial neutrals. Our goal is to get both parties together and quickly come to a solution without going to court.
Contact us today to see how our team of collaborative divorce experts can help you prepare for your upcoming divorce without going to court.
Note: This information is general in nature and should not be construed as legal/financial/tax/or mental health advice. You should work with your attorney, financial, mental health or tax professional to determine what will work best for your situation.
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