Ask an Advisor: I was married for well over 10 years, and now divorced for just over 2 years. Can I collect on my spouse’s Social Security even if they are not?

Ask an Advisor: I was married for well over 10 years, and now divorced for just over 2 years. Can I collect on my spouse’s Social Security even if they are not? – Anonymous

As you may know, Social Security is a government-run program that provides financial support to retired and disabled individuals. The program is funded by payroll taxes and is designed to provide a stable source of income for eligible individuals during retirement.

For many individuals, Social Security is a critical source of income during their retirement years and is a key component of their overall financial plan. However, it can also be a complex and confusing system, especially for those who are divorced.

Your question of whether you are eligible to collect Social Security benefits based on your ex-spouse’s record, even if your ex-spouse is not currently collecting their benefits, is one that often arises for individuals in your situation. 

The answer is yes, in some cases, you may be eligible to collect spousal benefits on your ex-spouse’s Social Security record, even if your ex has remarried.

To qualify for these benefits, you must meet certain criteria. First and foremost, you must be at least 62 years of age and unmarried. Additionally, you must have been married to your ex-spouse for at least 10 years. Finally, your ex-spouse must be entitled to receive Social Security benefits.

If your ex-spouse hasn’t applied for retirement benefits yet but can qualify for them, you can still receive benefits based on their record if you have been divorced for at least two continuous years.

Once you have met these criteria, you may be eligible to receive up to half of your ex-spouse’s full retirement benefit amount. If your own full retirement benefit amount is higher than half of your ex-spouse’s full retirement benefit amount, you will receive your own full retirement benefit amount.

If your retirement benefits are less than your benefits from your divorced spouse, you will receive your benefit amount first and then an additional amount based on your ex’s record so that the combination of benefits equals the higher amount.

If you are eligible to collect benefits, it is important to carefully consider the timing of when you begin collecting benefits. If you are working while receiving Social Security benefits, your payments may be affected by the earnings limits imposed by the Social Security Administration. Also, if you begin collecting before your full retirement age, your benefits will be permanently reduced. On the other hand, if you wait until your full retirement age or later, your benefits will be higher.

Your birth date is a contributing factor to the options you have:

If you were born before January 2, 1954, and have already reached full retirement age, you can choose to receive only the spousal benefit and delay receiving your own retirement benefit until a later date.

However, if your birthday is January 2, 1954, or later, the option to take only one benefit at full retirement age no longer exists. If you file for one benefit, you will be effectively filing for all retirement or spousal benefits.

Divorce can have a significant impact on your Social Security benefits. If you are divorced, it is important to carefully consider your eligibility for spousal benefits based on your ex-spouse’s record and your personal situation. By doing so, you can ensure that you receive the maximum benefits to which you are entitled and that you have a secure and stable source of income during your retirement years.

Zack Swad is the President of Swad Wealth Management, LLC, located in Santa Rosa, CA. He specializes in retirement planning for people age 50+ and serves clients nationwide. He has over 11 years of industry experience and has created over 600 financial plans. Prior to founding his own company, Zack managed a practice at a Fortune 500 firm of $800 million for 300 clients. He lives in Petaluma, CA with his beautiful wife, Elise, and their two cats, Elsa and Anna.

Get to know Zack Swad, by visiting his profile page on Wealthtender or his website at swadwealth.com.

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This article is intended for informational purposes only, and should not be considered financial advice. You should consult a financial professional before making any major financial decisions.

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