How Divorce Affects Social Security Benefits

Many Social Security benefits factor in your plans for the future, making it important to understand how divorce can influence what you’re entitled to receive. Here’s everything you need to know about Social Security benefits and divorce.

1. How Benefits are Calculated: Social Security calculates your benefits using either your own work record or your ex-spouse’s (whichever is higher), but not both. The percentage you receive as an ex-spouse is stopped at 50% of their full retirement benefit. 
2. The Impact of Remarriage: It’s important to know how remarriage affects your benefits. If you remarry, most of the time you forfeit the right to claim benefits based on your ex-spouse’s record. You’ll have to rely on your new spouse’s work record. 
3. Eligibility for Benefits Based on your Ex-Spouse’s Work Record: If you were married for at least 10 years, you may be eligible to claim Social Security benefits based on your ex-spouse’s work record. 

Let me be your financial advocate as you navigate the divorce process. As a Certified Divorce Financial Analyst, CDFA®, I can help you avoid costly mistakes and educate you on current and future budgets, provide a financial road map, and help you understand what assets you have, what you spend, where you spend it, and more. Don’t let divorce set you back.

You don't have to go through this alone.

Contact me today at 716-800-4290 to schedule your first appointment.