The majority of Social Security beneficiaries receive payments for either disability or retirement. You get these payouts each month based on your own work history. You get Social Security credits while you work and pay FICA taxes. After you meet the requirements, you can start receiving advantages depending on those credits.
You must be of legal age to receive retirement benefits. You need to be blind or have a qualifying handicap in order to get disability compensation. Generally speaking, your marital status has no bearing on retirement or disability benefits.
If you get remarried after a divorce, you will be eligible for these benefits in full. If it’s your first marriage and you were previously divorced from your spouse, you will also be eligible for all of these benefits.
Divorced Spouse Benefits
Based on their employment history, you can be eligible for payments if you are divorced from a Social Security recipient who meets eligibility requirements. Although not a complete list, in order to be eligible for benefits as a divorced spouse, you must typically:
1. surpass the age of 62
2. Have spent at least ten years married to your former spouse
3. Be single at the moment
Survivor Benefits
Social Security survivor payments are normally available to your spouse or dependents if you predecease them. Based on a number of variables, such as your credits and their present situation, they may be able to receive this portion of your retirement or disability benefits. The precise sum that a claimant may be awarded varies greatly.
Generally speaking, a surviving spouse is entitled to the same benefits as their deceased spouse. In other words, a surviving spouse will normally get 100% of the benefits of the deceased if they claim them at age 67. Remarriage gets specific and complicated in this situation.
The primary factor determining your eligibility for survivor’s benefits is the age at which you remarry:
1. Remarriage prior to turning 50. While you are married to the later spouse, there are no survivor’s benefits for the predeceased spouse.
However, if you divorce the later spouse, you can be qualified for survivor’s benefits for a predeceased spouse.
2. Remarriage between 50 and 59 years of age. Benefits for a predeceased spouse are not available.
3. Remarriage after 60 years old. Possibility of receiving survivor benefits for a spouse who passed away.
Social Security Tips
Two common strategies used by Social Security claimants to reduce their tax obligations are delaying Social Security claims and minimising withdrawals from traditional IRAs. Here are several options for you, depending on your circumstances. A financial advisor can assist you in creating a thorough retirement strategy.
Discovering a financial counselor doesn’t have to be difficult. Using the free service from SmartAsset, you may find up to three local, vetted financial advisors to work with. You can then schedule a free consultation call with each advisor match to choose which one is best for you. Get going right away if you’re prepared to hire an advisor who can assist you in reaching your financial objectives.
