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does my ex wife get half of my social security

does my ex wife get half of my social security插图

As a matter of federal law, your wife may receive Social Security based on your earnings, butnot half of yours. Your ex-wife may qualify for divorced spouse benefits. These are Social Security benefits based on the former spouse’s earning record.

How much will my ex wife get from my social security?

You will receive your own $250 retirement benefit, and we will add $150 from your ex-spouse’s benefit, for a total of $400. Your benefit as a divorced spouse is equal to one-half of your ex-spouse’s full retirement amount only if you start receiving benefits at your full retirement age.

Can I get Social Security benefits if my ex-spouse hasn’t retired?

You can apply for benefits on your former spouse’s record even if he or she hasn’t retired, as long as you divorced at least two years before applying. If, however, you decide to wait until full retirement age to apply as a divorced spouse, your benefit will be equal to half of your ex-spouse’s full retirement amount or disability benefit.

Does wife get half of husband’s Social Security?

How Much to Expect for Spousal Social Security Benefits. Your spousal benefit will be 50% of your spouse’s benefit if you start payments at full retirement age or older. The full retirement age varies by birth year and is usually age 66 or 67.

What is the maximum spousal benefit for Ann?

The maximum spousal benefit for Ann would be half of Jerry’s PIA (or earned benefit at Full Retirement Age).

What is the second loophole in Social Security?

The second loophole that the law ended was a practice called file and suspend. File and suspend was a popular method used by married couples to get the most out of their Social Security benefits. In that scenario, the higher earning spouse would file for earned retirement benefits when he or she reached Full Retirement Age, but then suspend those benefits. His or her spouse, however, was still allowed to start collecting spousal benefits. Meanwhile, the higher earning spouse would delay taking Social Security for as long as possible to grow their earned benefits. This loophole is entirely closed and would not make sense for divorced couples who aren’t combining income and don’t require that the higher earning spouse claim earned benefits before the other spouse can collect spousal benefits.

How much PIA do Ann and Jerry get?

Since Jerry and Ann are both 65, they could theoretically start collecting 92.2% of their PIA or 45.1% of their spouse’s benefit. Let’s calculate Ann’s benefit options:

What is Ann’s PIA?

The amount that Ann is entitled to receive is based on Jerry’s PIA, Ann’s PIA and when Ann decides to claim Social Security. As we mentioned above, PIA represents the amount that you are eligible to receive in earned Social Security retirement income per month if you claim at Full Retirement Age . The Social Security Administration will multiply your PIA by a factor, depending on when you decide to start collecting Social Security benefit; you can start collecting benefits at 62, but the longer you wait, the more the monthly amount will grow, until you hit 70.

How old are Jerry and Ann?

Jerry and his ex-wife Ann were both born in 1955 and are now 65 years old; Full Retirement Age for them is 66 and 2 months

What should Ann and Jerry’s decisions be based on?

For both Ann and Jerry, decisions around when to claim should be based on their expected life spans, earnings expectations and how much they need the money to cover expenses.

How long do you have to be married to claim Social Security?

Have been married to the relevant ex-spouse for at least 10 years. Have been divorced for at least two years before you claim OR have an ex-spouse already collecting Social Security retirement benefits. Be unmarried. Be age 62 or older (the same goes for your ex-spouse)

How long do you have to be married to collect spousal benefits?

You are eligible to collect spousal benefits on a living former wife’s or husband’s earnings record as long as: The marriage lasted at least 10 years. You have not remarried. You are at least 62 years of age. Your ex-spouse is entitled to collect Social Security retirement or disability benefits . Your former spouse doesn’t have to be collecting …

How long does a marriage last?

The marriage lasted at least 10 years. You have not remarried. You are at least 62 years of age. Your ex-spouse is entitled to collect Social Security retirement or disability benefits . Your former spouse doesn’t have to be collecting his or her retirement benefits yet for you to claim ex-spousal benefits.

How old do you have to be to claim your ex-spouse?

However, if this is the case, the divorce must be at least two years old. (There is no such requirement if your ex is already receiving benefits.)

Does divorce affect Social Security?

Any benefits you receive as a divorced spouse do not affect Social Security benefits paid to your ex, or to their current spouse if they have remarried.

What If My Ex Is Deceased?

Many divorced spouses are eligible for the same survivor benefits as current spouses, which means you could receive the full amount of your ex’s benefits, rather than just half. Again, your marriage has to have lasted at least 10 years and the amount has to be greater than what you’d receive based on your own record. But there is one other big difference: You can begin receiving survivor benefits at age 60, or 50 if you’re disabled.

How Do I Collect a Divorced Spouse’s Social Security?

According to the Social Security Administration (SSA)’s Retirement Planner: If You Are Divorced, when applying for benefits on your ex’s record, you’ll be asked a number of questions about your name and work history, and may need to provide:

How long can you draw unemployment benefits after divorce?

You can even begin drawing benefits before your ex has retired, as long as they qualify and you’ve been divorced at least two years.

What happens if you start taking unemployment at 62?

A few more details: If you start taking benefits at 62 and continue to work, you’ll be subject to the retirement earnings test. Your benefits could be reduced depending on the amount of income you earn.

What happens if you don’t withhold Social Security taxes?

If you receive a pension from an employer that did not withhold Social Security taxes (like a government), your benefits may be reduced according to the Government Pension Offset (GPO).

How old do you have to be to get Social Security?

You are at least 62 years old. You are single. You were married to your ex-spouse for at least 10 years. The benefit you are entitled to receive based on your own work history is less than the benefit you would receive based on your former spouse’s work history. Your ex-spouse qualifies for Social Security benefits.

Does the SSA accept birth certificates?

The SSA will accept copies of tax and medical records, but needs the originals of most other documents, such as birth certificates. Don’t worry if you don’t know where your papers are located. “Do not delay applying for benefits because you do not have all the documents,” it says in bold letters on the SSA website.

What Is the Maximum Spousal Social Security Benefit?

(Current FRA for those near retirement is likely 66 and a few months, pushing into 67+ a few months for younger workers). If the ex-spouse’s own benefit exceeds one-half of this amount, they will not receive any ex-spousal benefits. In this scenario, if Jim (the lower-earning ex) had a Social Security benefit less than half of Mike’s, he would receive a spousal Social Security benefit. So for maximum Social Security Spousal benefit in 2021 is $1506 per month at full retirement age.

Can a stay at home wife receive spousal Social Security?

When Social Security was originally created, the spousal benefit was likely envisioned for the stay-at-home wife. Today with many double-income households, the gap between your own Social Security benefits (based on your work record) and the spousal benefits may not be that wide. So, when planning to maximize your Social Security benefits in retirement, it can pay to review your various Social Security claiming options.

Does spousal benefit affect Social Security?

The good news here is that the spousal benefit does not affect the primary earner’s benefits in any way. Whether Jim takes his own benefit or receives spousal benefits, it will not alter or change Mike’s Social Security benefits one bit.

Can you split your pension during divorce?

In this case, there is most likely some time alimony or palimony based on when you retire or begin Social Security. As far as pension splitting is concerned, it can be split during the divorce, and each spouse can eventually make their own choices about when and how to receive the pension lifetime income.

When splitting retirement accounts or making significant financial decisions during a divorce, make sure to review the tax consequences with a?

When splitting retirement accounts or making significant financial decisions during a divorce, make sure to review the tax consequences with a trusted Fiduciary Certified Financial Planner.

Is Forbes opinion their own?

Opinions expressed by Forbes Contributors are their own.

What Does It Take to Qualify for Social Security Spousal Benefits?

Unlike most rules related to Social Security, the rules for the spousal benefit entitlement are pretty straightforward and easy to understand.

Why do we need spousal benefits?

Why? Because the spousal benefit can give your household income a big boost if you know all the rules about how to use it.

How much is spousal benefit?

Depending on how old you are when you file, the spousal benefit amount will range between 32.5% and 50% of the higher-earning spouse’s full retirement benefit. Check out the chart below to get an idea of how the benefit works and what your payment might be if you can take advantage …

What is the 1 year requirement for Social Security?

The 1-year requirement is also waived if you were entitled (or potentially entitled!) to Social Security benefits on someone else’s work record in the month before you were married. An example of these benefits would be spousal benefits, survivor benefits or parent’s benefits.

What is Julie’s reduction to her own benefit?

This means that Julie’s reduction to her own benefit would be based on her age when she filed for her benefit. However, her reduction to the spousal benefit would be based on her age when Joe filed for his benefit. So, if Julie filed when she was 62, her own benefit would be reduced.

How long do you have to be married to qualify for spousal benefits?

You may also qualify for the spousal benefit If you’re divorced but the marriage lasted for at least 10 years and you’re not currently married.

How much of my spouse’s Social Security is my full retirement?

Remember, in that case, it’s between 32.5% and 50% of the higher-earning spouse’s full retirement age benefit, depending on your filing age. However, it can seem a little more complicated if you have Social Security benefits from your work history.

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