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Not every first wife is the one who was wronged. Sometimes, it's the husband and the children who were cheated on or deserted. I'm a second wife. When I married my husband, I also got his daughter. Over the last 27 years, I've taken care of his/our daughter and my grandson, who is now 19. I'm wondering if the decision regarding the ex and SS should be made at the time of the divorce. Case by case.
Not every first wife is the one who was wronged. Sometimes, it's the husband and the children who were cheated on or deserted. I'm a second wife. When I married my husband, I also got his daughter. Over the last 27 years, I've taken care of his/our daughter and my grandson, who is now 19. I'm wondering if the decision regarding the ex and SS should be made at the time of the divorce. Case by case.
Divorce court wouldn't have jurisdiction or standing. It is the application of SS regulations.
My thoughts are more if it ain't broke don't fix it. I suspect the Federal Government would never yield control over parts of SS to an agency that is neither responsible for collecting or distributing the revenues. This is probably more of a forum issue than one really on the top of the pile at SS.
Not every first wife is the one who was wronged. Sometimes, it's the husband and the children who were cheated on or deserted. I'm a second wife. When I married my husband, I also got his daughter. Over the last 27 years, I've taken care of his/our daughter and my grandson, who is now 19. I'm wondering if the decision regarding the ex and SS should be made at the time of the divorce. Case by case.
That's not the point. The first part of my message was directed at the poster who irrationally declared that the first spouse should be penalized because "she picked him to marry, bad choices have consequences in the real world". Nevertheless, as family lawyers are fond of saying, "There are three sides to every story. Her story, his story and the truth."
I would love for Social Security to be determined at the time of the divorce. If based on equity, as in my state), the higher wage earner would likely lose more than half of his Social Security benefits because he has the capacity to earn much more during the remainder of his working years.
That's not the point. The first part of my message was directed at the poster who irrationally declared that the first spouse should be penalized because "she picked him to marry, bad choices have consequences in the real world". Nevertheless, as family lawyers are fond of saying, "There are three sides to every story. Her story, his story and the truth."
I would love for Social Security to be determined at the time of the divorce. If based on equity, as in my state), the higher wage earner would likely lose more than half of his Social Security benefits because he has the capacity to earn much more during the remainder of his working years.
Be thankful this is a federal program.
Be careful with that my friend. If I take it earlier and have to give half that to my wife and can invest my half it may be more appealing then letting it grow to 70 and not really be getting 8% a year since half of that goes to her. It makes the decision to take and invest more tempting. Screw her I will give her half of this and not that.
My .02 - SS is generally decided on a case by case finding, for lack of a better word. Back in the old days you had to have been married 20 years to qualify for an ex's SS benefits. Today it is 10 years. When I retired, I received a federal annuity, along with the Federal Employees Retirement System (FERS). Got checks for both retirements. When I turned 62, the FERS converted and I was eligible for my own SS. Except that because I had a federal annuity, I was penalized x amt. But when SS did the work up, I was eligible for only part of what my SS should have been, so it was cut. Then, because my husband was drawing his SS retirement, I was eligible based on his earnings. So it brought my SS to 1/2 of what he receives each month. If he passes before me, than I will get his entire amt.
Clear as mud? I would never do an over the phone interview with SS. At least I knew there would be some obstacles in mine, so I made an apt and went into the SSA office. No problem at all (after they figured it all out).
What I'm really trying to get across is that we all have unique situations and there is not Plan A or Plan B category that everyone falls into.
Be careful with that my friend. If I take it earlier and have to give half that to my wife and can invest my half it may be more appealing then letting it grow to 70 and not really be getting 8% a year since half of that goes to her. It makes the decision to take and invest more tempting. Screw her I will give her half of this and not that.
Can't believe you still don't get how this works. Whatever you wife or EX wife gets does not affect your amount one little bit. Neither of them get 1/2 or any other amount of YOUR personal benefit you get what you are entitled too. They get an amount based on what your benefit is at FRA but with possible deductions for the age they start collecting.
in the case of waiting to 70 for YOU to collect. you do get the full 8% per year increase in your FRA payment, so if you were going to collect $1000. at 66 then you would get $1320. at 70 assuming you did not collect till then. you would get that no matter if wives filed or not.
Meanwhile your wife and or ex could collect an amount UP TO 50% of the amount of your benefit, not your benefit itself, depending on when they choose to file from age 62, assuming you are at least 62 by the time they turn 62, up to FRA when they could qualify for 50%.
Also if you die they then get an amount up to 100% of your benefit amount including any extra credits you might have earned.
Can't believe you still don't get how this works. Whatever you wife or EX wife gets does not affect your amount one little bit. Neither of them get 1/2 or any other amount of YOUR personal benefit you get what you are entitled too. They get an amount based on what your benefit is at FRA but with possible deductions for the age they start collecting.
in the case of waiting to 70 for YOU to collect. you do get the full 8% per year increase in your FRA payment, so if you were going to collect $1000. at 66 then you would get $1320. at 70 assuming you did not collect till then. you would get that no matter if wives filed or not.
Meanwhile your wife and or ex could collect an amount UP TO 50% of the amount of your benefit, not your benefit itself, depending on when they choose to file from age 62, assuming you are at least 62 by the time they turn 62, up to FRA when they could qualify for 50%.
Also if you die they then get an amount up to 100% of your benefit amount including any extra credits you might have earned.
I realize I mentioned mine being reduced and should not have phrased it that way, I was only trying to explain a way to screw the ex wife if I had one another time. I am coming from a different SS perspective than many. I need to stay away from this divorce stuff to messy and don't need to.
Be careful with that my friend. If I take it earlier and have to give half that to my wife and can invest my half it may be more appealing then letting it grow to 70 and not really be getting 8% a year since half of that goes to her. It makes the decision to take and invest more tempting. Screw her I will give her half of this and not that.
While you are still married those investment funds would be considered marital property. You don't get to choose to give her half of one property and not the other. It all goes into one "marital" pot. The court decides how to divy up the pot based on multiple factors.
Most spouses would prefer the model used by most pensions funds: Pension funds are segregated until retirement and ex-spouse receives her segregated pension and retains survivor's benefits, as well. Clean and simple.
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