What are the social security rules for dipping into your ex's SS and yours? (pay, million)

[flyingsaucermom]

Hi,

I posted a little while ago about my mom's financial issues. She mentioned to me yesterday that she was going to visit the SS office because she heard she can get both her ex's and her own SS and if so, how to best go about it. He's the one who made millions and she hasn't worked since 1981 (or it's possible my dad put her on pay role in his company). Any light into this? It's really beyond my knowledge.

Thanks!

[froglipz]

It goes in but won't come out until you actually receive retirement benefits.

[Petunia 100]

She can't draw both, but she can draw her own OR half of his, whichever is higher, provided they were married for at least 10 years.

If she does draw on his record, it does not reduce his benefits at all.

[rjm1cc]

Her and his age is important to the answer. Also how long they were married.
She can only collect once. It will be the higher of hers or her x.
.

[flyingsaucermom]

She turns 62 this year. Her ex will be 64. They were married 30 years.

[mathjak107]

she can not get both

[Qwerty]

Did she work at least 10 years during her life? If not, she isn't eligible for her own SS.

Benefits Planner: Social Security Credits

[Petunia 100]

Originally Posted by flyingsaucermom

She turns 62 this year. Her ex will be 64. They were married 30 years.

If she starts drawing at age 62, her benefits will be reduced.

Here is a link with lots of good info for divorced spouses:

Retirement Planner: If You Are Divorced

[SaucyAussie]

Originally Posted by Petunia 100

If she starts drawing at age 62, her benefits will be reduced.

Here is a link with lots of good info for divorced spouses:

Retirement Planner: If You Are Divorced

Thanks for this link, I am in this situation and didn't fully understand how it worked. Reading this, it seems to me that a divorced spouse can receive there own SS benefit, plus half of the other higher benefit, up to the amount of that higher benefit.

I had always just thought that the divorced spouse would just get the same amount as the person with the higher benefit.

[mathjak107]

Yes , you always get your own benefit if under fra.

The way it works is they take 1/2 the ex's full benefit and substract the spouses. The difference is added to the spouces own benefit.