Divorce can be a stressful situation for all parties involved, especially when it comes to managing financial assets. One of the biggest worries is how you’ll handle Social Security benefits for both spouses—will they still receive them after the divorce? We’re here to dispel some of the most common myths about Social Security benefits and divorce.
Myth 1: Both parties will lose their Social Security benefits after a divorce.
False! As long as one of the ex-spouses has worked for at least 10 years (and thus earned 40 credits) before their divorce, that spouse is eligible to receive Social Security payments based on their own earnings or on those of an ex-spouse. This means that even if the other spouse didn’t work at all and did not earn any credits, they would still be able to collect benefits from the ex-spouse who did work and earned credits.
Myth 2: An ex-spouse who was married less than 10 years is not eligible for any Social Security benefits in a post-divorce situation.
False! Even if the marriage lasted less than 10 years, an ex-spouse can still collect their own or their former partner’s Social Security benefits provided all other requirements are met, such as having one working partner prior to filing for divorce. If you are doing an online divorce, then you don’t even have to include it in your agreement for it to happen either.
Myth 3: Once you’re divorced, you cannot collect spousal benefits from your former partner’s social security account.
False! Even after a divorce has been finalized, an ex-spouse may still be eligible to receive spousal benefits from their former partner’s account if they were married for over 10 years (as outlined above). In these cases, the amount received will depend on what was earned during each year of marriage and how much your former partner earned in wages during his/her career prior to retirement or death.
Myth 4: You cannot get remarried and still receive Social Security benefits from your first spouse’s account after your second marriage has ended.
False! Provided that you have no eligible children with your second spouse then yes, you can still file claims under your first spouse’s account even if you have since remarried someone else (provided no claims had previously been filed while married to the second person). This applies only if your original marriage lasted longer than 10 years in total before it ended through either death or divorce.
Hopefully this article has helped clear up some of the confusion surrounding eligibility for social security payments following a divorce. Ultimately every situation is unique so it is important to consult with an experienced attorney in order to understand exactly how this affects you financially depending on specific circumstances affecting both parties involved in the case!