Thoughts and Riches

.....a blog about personal finance, motivational stories, deals, and special offers

Books

Web Domain Registration

Thursday, May 24, 2007

Divorce and Social Security

The Kiplinger.com article discusses whether a person can qualify for social security benefits based on the work history of his/her spouse in case of a divorce.

As per the article, based on the current social security requirements, a person can qualify for social security spousal benefits even after divorce if:

- He/she is at least 62 years old
- Was married to the (former) spouse for at least 10 years
- Is currently unmarried (after divorce)
- Is not eligible for a higher benefit based on your own or someone else's Social Security record.

As per the article, as a spouse, a person can receive up to 50% of his/her partner’s Social Security benefit based on the partner’s work history, or alternatively, the benefits may be based on their own earnings history.

Getting social security benefits based on spouse’s earnings history, rather than one’s own earnings history, may be beneficial if a person has limited working years or had lower salary compared to his/her spouse. As a result, social security benefits may be much higher if qualifying based on the spouse’s earnings history rather than one’s own.

For complete article, check out:

Kiplinger.com: Social Security and Divorce

posted by Ruby @ 7:34 AM

0 Comments:

Post a Comment

<< Home

See important Disclosure and Disclaimer

Favorite Quote

"If you look at what you have in life, you will always have more. If you look at what you do not have in life, you will never have enough".
- Author Unknown

Disclosure

This site uses cookies from companies like Google and others to enable the companies to deliver their services, personalize their ads and product offerings, and for traffic analysis. Information about your use of this site is shared with these companies. By using this site, you agree to its use of cookies. Additionally, this site, including blog posts, may contain reviews, links, banners, text and other forms of advertisements for products, services, courses, and so forth of companies of which we may be an affiliate member or for which we may get paid for referrals. This site may also contain blog posts for which we are paid, as well as blog posts regarding products or services of companies from which we may have received complimentary products or services.

Reward Surveys/Panels/Shopping/Contests