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Social Security and Divorce

Divorcing during your golden years can be difficult, but a Massachusetts Divorce Attorney can help you maximizing your Social Security earnings.If you were married for at least 10 years and you aren’t currently remarried,then you can collect Social Security based on your ex-spouse’s earnings. If you claim a spousal benefit at full retirement age, you could receive as much as half of what your spouse collects at full retirement age.

By utilizing spousal benefits, you can maximize your social security earnings. At age 66, you can start collecting half of what your spouse would collect when they reach the age of 66, while deferring what you’re due based upon your own earnings. This allows your personal Social Security benefits to increase by 8% per year until you are 70, all while you’re receiving Social Security payments under your spousal benefits.

[For example: If you ex-spouse was due $2,500 per month, you can claim $1,250 per month when you turn 66 via your spousal benefits. While claiming spousal benefits, you defer your personal Social Security payments to maximize your benefits, and let them increase 8% per year for 4 years until you turn 70. At 70, your benefits will no longer increase, so you start drawing your own Social Security (if it’s larger than your spousal benefits). You just received $60,000 over four years while allowing your own benefits to reach their maximum potential.]

Fortunately, you can claim spousal benefits even if you divorce. A Middlesex divorce lawyer can help you navigate the intricacies of Spousal Benefits to ensure that you maximize your earnings during and after your divorce.