For many people, Social Security plays a key role in retirement planning. If you are considering divorce after a long-time marriage, you may wonder how it could affect your future income. The good news is that you can still receive Social Security benefits based on your ex-spouse’s work history.
Here are some things you should know that can help you make informed decisions as you plan for the future.
Some divorced spouses may qualify for Social Security benefits
In some circumstances, divorced individuals can receive Social Security based on a former spouse’s earnings. Eligibility depends on a few factors, such as the length of the marriage and your age when you begin collecting payments.
To qualify, the marriage generally must have lasted at least 10 years, and you must be at least 62 years old. If you meet the applicable requirements, you may qualify to collect payments even after the divorce becomes final.
Claiming benefits does not affect what your ex-spouse receives
Many people hesitate to explore this option because they believe it will reduce what their former spouse can collect. However, Social Security does not work that way.
If you qualify for divorced-spouse benefits, your former spouse will continue to receive the same amount. Likewise, your claim generally does not reduce the payments available to a current spouse or other eligible family members.
Timing can influence your benefits
Your age when you begin collecting Social Security can influence your monthly payment. While some people claim benefits as soon as they qualify, others choose to wait, potentially increasing the amount they receive.
Because the timing of your claim can affect your monthly benefits, it is important to understand your options before making a decision.
Protect your rights
Ending a long-term marriage can bring uncertainty, particularly when you and your soon-to-be ex-spouse are nearing retirement. Having legal guidance on how Social Security benefits may apply to your situation can help you better understand your options and prepare for the future.
