All ties aren’t all the time lower after a divorce, even relating to Social Security advantages.
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In keeping with the Social Security Administration, your ex-spouse can obtain advantages primarily based in your work document if:
Your marriage lasted no less than 10 years
Your ex-spouse hasn’t remarried
Your ex-spouse is 62 or older
The profit that your ex-spouse is entitled to obtain primarily based on their work is lower than what they’d obtain primarily based in your work
You might be entitled to Social security retirement or incapacity advantages
In the event you qualify for retirement advantages however haven’t utilized, your ex can obtain advantages in your document in case you have divorced for no less than two consecutive years (even for those who remarried). The SSA acknowledged that in case your former partner is eligible for retirement advantages on their very own document, that will probably be paid first. In the meantime, in case your profit is increased, your ex-spouse will obtain an extra quantity in your document. The mix of advantages will equal that increased quantity.
The SSA added that in case your ex-spouse was born earlier than January 2, 1954, they will select to obtain solely the divorced partner’s profit and delay receiving their very own profit. In case your ex-spouse was born on or after that date, that possibility not applies and in the event that they file for one profit, they’re submitting for retirement or spousal advantages.
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Nonetheless, in case your ex continues to work whereas receiving advantages, the identical earnings limits apply to them as they’d to you. If they’re receiving a pension by work not lined by Social Security, their Social Security profit in your document could also be affected. What your ex receives doesn’t have an effect on what you or what your present partner will obtain.
Basically, you’ll be able to obtain as much as 50% of the quantity your former partner would obtain in advantages at full retirement age, which is 66 years and a couple of months, in line with Kiplinger. This isn’t along with your individual profit.
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This text initially appeared on GOBankingRates.com: Your Ex Might Get You Extra Cash From Social Security