While getting a divorce is almost always painful and stressful, no matter your age, marriages that fall apart later in life are much more challenging to recover from financially and emotionally compared to when you were younger. When you’re younger, you have more time and opportunity to earn money. However, you may not have as much time to make money if you’re older or retired. Being financially dependent on your spouse can leave you unsure of how you’ll make ends meet. Fortunately, you may be eligible to collect Social Security benefits from your ex-spouse. Please continue reading to learn when you qualify and how an experienced Suffolk County Divorce & Separation Attorney can help guide you through these complex times.
Are My Ex-Spouse’s Benefits Subject to Equitable Distribution?
In New York, it’s crucial to understand how assets and debts are distributed during a divorce. When it comes to property division, the state follows equitable distribution laws. This means that if the parties cannot agree on how to divide their assets, a judge will do so, considering several factors to ensure a fair, but not necessarily equal, distribution of assets acquired during the marriage.
Social Security is not divided like other retirement funds. Pensions and retirement accounts are typically split according to equitable distribution rules when a couple gets divorced. Social Security is considered a separate property and thus will not be divided between divorcing parties. However, a dependent spouse may have derivative rights to Social Security payments. In some circumstances
When Can You Collect an Ex-Spouse’s Social Security Benefits?
Generally, to collect Social Security benefits from your ex-spouse, you must meet the following requirements:
- The marriage must have lasted for ten years or more
- You must be at least 62 years old
- You cannot currently be married
- Your ex-spouse must be eligible to recover social security benefits
You can claim half of the payment if your ex-spouse has Social Security benefits. This means you could receive 50% of your ex-spouse’s benefits. It’s important to note that when you reach retirement age, you cannot collect your and your spouse’s benefits. Instead, you would be entitled to receive whichever one is higher. In addition, if your ex-spouse dies, you may be eligible for survivor benefits, which are 100% of the Social Security retirement benefits.
If a divorce is imminent, please don’t hesitate to contact a trusted Suffolk County divorce & separation attorney, who can help you fight for the best possible outcome for your circumstances. At The Law Offices of Susan A. Kassel, P.C., we understand how complex these matters can be. Connect with us today to learn how we can help protect your rights and interests.
