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How an Arizona Divorce Can Impact Social Security Benefits

Thu 8th Dec, 2022 Arizona Divorce Laws
How Divorce Can Impact Social Security Benefits.

If you are going through a divorce, you should know how an Arizona divorce can impact social security benefits. Divorce can be a difficult, emotional transition. On top of the impact it has on your personal life, it can also have an effect on your finances.

One aspect that people should consider when going through a divorce is how it will affect their social security benefits. Let’s take a closer look at this so you can understand how to best protect yourself financially during and after a divorce.

One of the first things you should do is to determine what social security payments you can expect to receive based upon your employment history. You can sign up on the Social Security Administration’s website to view your personal social security statement.

How Divorce Can Impact Social Security Benefits: The Basics of Social Security Benefits

Social security benefits are primarily based on your work history, so it typically won’t be affected by a divorce, assuming that you have worked enough to qualify for them in the first place.

That said, if you were married for at least 10 years before filing for divorce, you may be eligible for spousal or survivor benefits on your former spouse’s record even if they haven’t applied for their own social security retirement benefit yet.

This means that you could potentially receive up to 50% of their full benefit amount as long as you remain unmarried until age 60 (age 50 if disabled).

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Divorced Spouse Benefits

If you meet the eligibility requirements outlined above, then your former spouse does not need to sign off on anything in order for you to get divorced spouse benefits.

However, they must have already filed for social security retirement benefits in order for you to receive these payments.

It’s important to note that remarriage after age 60 (age 50 if disabled) will terminate any spousal or survivor rights from previous marriages unless the new marriage ends through death or annulment.

Understanding Survivor Benefits

In the event that your former spouse dies before applying for retirement benefits but after at least 10 years of marriage, then there may be other options available to receive survivor benefits.

For example, if you are caring for minor children who are entitled to receive social security benefits due to their parent’s death, then those children may also be eligible for survivor benefits until they reach adulthood (18-19 years old depending on the state).

Additionally, if your former spouse had assets such as pensions or annuities that provide monthly payments upon death and those assets were acquired during the marriage period then those assets may also qualify as survivor benefits under certain circumstances.

Summary of the Affect of Divorce on Social Security Benefits

Choosing a Valuation Date When Dividing Assets in a Divorce in Arizona.

Divorce can be an emotionally and financially difficult process but knowing how it might affect your future social security payments can help ease some of the stress associated with it.

Understanding which types of social security benefits may still be available after a divorce is key to ensuring that all parties involved in the split are taken care of financially down the line.

Consult With a Social Security Benefits Expert

It’s wise to consult with an expert who understands this complex system so that both spouses are well prepared and protected moving forward with their lives post-divorce.

By doing this, you can protect yourself financially before, during, and after your divorce. Additionally, understanding the different types of social security benefits available to divorced spouses can help ensure that both parties receive their fair share once the divorcce settlement is complete.

Being aware of the potential effects a divorce may have on your social security benefits can make all the difference in the long run.

Be sure to do your research and consult with experts if necessary so that you’re fully prepared for any changes or unexpected outcomes.

With this knowledge in hand, you can confidently move forward following your divorce without any doubt or worry about how it might impact your finances down the road. This will save both time and money in the long run.

The aftermath of a divorce can be difficult to cope with, but understanding the financial implications it may have on your future is key to being prepared.

By doing some research and speaking with an expert if necessary, you can ensure that any potential effects on your social security benefits are taken into account prior to finalizing the settlement.

This will make all the difference in protecting yourself financially both now and in the years ahead following your divorce. With this knowledge in hand, you will surely be able to confidently move forward with peace of mind.

Contact Our Experienced Attorneys About Your Divorce Questions

If you have questions about how a divorce affects your social security benefits, you should seriously consider contacting the attorneys at Hildebrand Law, PC. Our Arizona divorce and family law attorneys have over 100 years of combined experience successfully representing clients in divorce and family law cases.

Our family law firm has earned numerous awards such as US News and World Reports Best Arizona Family Law Firm, US News and World Report Best Divorce Attorneys, “Best of the Valley” by Arizona Foothills readers, and “Best Arizona Divorce Law Firms” by North Scottsdale Magazine.

Call us today at (480)305-8300 or reach out to us through our appointment scheduling form to schedule your personalized consultation and turn your divorce or family law case around today.

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