Divorced Spouse Can Collect Social Security Benefits Under Certain Conditions
A Divorced Spouse May Be Eligible For Social Security Benefits Once They Hit Retirement Age
Typically, when a divorce is settled, so are the marital assets. Yet, not a lot of people know that as you reach retirement age, there may be one more benefit you can collect from your divorce.
In a MassMutual poll conducted in 2021, 30% of individuals didn’t know that a divorced person may potentially collect social security benefits on their ex-spouse, once they hit retirement age.
Back in May of 2016, we discussed Social Security benefits after the divorce is finalized in our post, “Social Security Benefits Can Be Maximized Post Final Divorce Decree“, but with divorce rates highest among those ages 55-64, according to the US Census Bureau, it’s a good topic to revisit and reiterate, especially if you’re nearing retirement age.
Now in order to qualify for the divorced spouse Social Security Benefits, there are a few conditions that ”must” be met:
- Your marriage lasted 10 or more years; and
- You are at least 62 years and not remarried; and
- Your ex-spouse is eligible for Social Security retirement benefits or disability benefits; and
- Your record benefit is less than your Ex’s record benefits.
If the answer is “yes” to the above statements, then you may qualify for a social security retirement benefit from your ex-spouse. The ten-year mark in the marriage is important, because even if you were married to your spouse for nine years and six months, you would be denied the benefits, according to David Freitag, a financial planning consultant and Social Security expert at MassMutual.
The divorced spouse benefit is substantial too, being worth a maximum of 50% of your ex-spouse’s retirement benefits.
“In 2022, the maximum monthly Social Security retirement benefit is $3,345 per month for those who retire at full retirement age. The difference between half of that – around $1,672 per month – and zero can be incentive enough for some couples in unhappy marriages to stick it out until they reach that 10-year anniversary,” Davon Barret told CNBC
He’s the lead adviser and certified financial planner at Francis Financial, a New York-based wealth management firm specializing in divorce planning.
Claiming benefits on your ex-spouse’s record does not decrease their own retirement benefit, according to the Social Security Administration, and will have no effect on the amount of benefits they or their current spouse will receive.
If you remarry though, generally that would disqualify you from being able to claim benefits on your ex-spouse’s record.
Survivor benefits even if you have remarried?
If your ex dies you could get survivor’s benefits of the same amount that your ex received, providing your marriage lasted 10 years or more. You are eligible for those benefits even if you have remarried after you have reached the age of 60 (or age 50 if you are disabled).
“When there’s this much money potentially available, I think you have to be your own advocate,” Freitag said.
If you are eligible, you can apply for divorce spouse benefits on the Social Security Administration website through the Social Security Retirement/Medicare Benefit Application. To learn more, click here.
Experienced, Trusted and Professional Dayton Divorce Lawyers
Our experienced Dayton divorce lawyers at Holzfaster, Cecil, McKnight & Mues can assist you with your divorce or dissolution related issues. To learn more, please go to our website at www.hcmmlaw.com or call us at 937 293-2141. We can schedule an in-person conference or one by phone or Zoom. We look forward to assisting you!
PUBLISHER’S NOTE: I want to thank Paralegal Kaylyn Hohn for her help writing this blog article. She has recently moved to Pennsylvania and everyone at HCM&M will miss her a lot! Best of luck Kaylyn!
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Attorney Robert “Chip” Mues has been focusing his legal practice throughout Southwest Ohio primarily in divorce and family law matters since 1978. Chip is passionate about family law and has proudly published the Ohio Family Law Blog since 2007. In addition, he is the managing partner of Holzfaster, Cecil, McKnight & Mues. To learn more about him or the law firm, visit the firm’s website at www.hcmmlaw.com. Appointments are available in person, over the phone or by Zoom. Call us at 937 293-2141.
