You may not need to sacrifice certain benefits when you divorce, and this includes Social Security. Whether you’re collecting from a spouse or an ex-spouse, Social Security support is similar, according to an article from The Motley Fool.
If you’re married, you can sometimes get extra benefits based on your spouse’s work record. This happens when your own Social Security is less than your spouse’s. The most you can collect in extra benefits is half of the amount your spouse received at full retirement age. If you're receiving Social Security based on your own work record, you'll only collect the higher of the two amounts.
If you’re divorced, you can also claim 50% in extra benefits from your ex-spouse. However, you only qualify if your previous marriage lasted for at least 10 years, and you may not currently be married. If you've been divorced for less than two years, you'll need to wait until your ex-spouse files for benefits. If you qualify for spousal or divorce benefits, it won’t affect your ex-spouse’s benefit or his/her new partner’s ability to collect either.
It is important to note, however, that Social Security benefits - unlike pension benefits - are not subject to equitable distribution under Pennsylvania law.
Finances can be confusing, especially when they are part of a divorce. You can place yourself in the best financial position possible when you retain a top divorce attorney in Bucks County, Pennsylvania. Contact us at 215-340-2207 or email info@bucksfamilylawyers.com.