The Reality of Social Security and Divorce
When you get divorced, there are a lot of things to think about. One of the biggest concerns for many people is what will happen to their retirement savings. In this video gallery, we will discuss how Social Security works when you get divorced. We will also talk about how alimony and child support can affect your benefits. If you are going through a divorce, it is important to understand how Social Security works and what your options are.
The first thing to understand is that Social Security benefits are based on your earnings. If you have been married for at least ten years, you are eligible to receive benefits based on your spouse’s earnings. This is true even if you have never worked or if you are currently not working. The amount of the benefit is determined by your spouse’s age and whether they are currently receiving benefits.
If you are divorced and you were married for less than ten years, you will not be eligible to receive benefits based on your ex-spouse’s earnings. However, you may still be eligible to receive benefits if you have enough credits of your own. The number of credits needed depends on your age. For example, a person who is 62 years old needs 40 credits, which is equal to about ten years of work.
You may also be eligible for benefits if you are divorced and your ex-spouse is deceased. In this case, you can receive benefits as long as you were married for at least nine months before your spouse’s death.
If you are receiving benefits based on your own earnings, your benefits will not be affected by a divorce. However, if you are receiving benefits based on your spouse’s earnings, your benefits will stop if you remarry. If you remarry after the age of 60, your benefits will not be affected.