Retirement funds are a primary concern for those approaching or in retirement. For divorced individuals in Florida, Social Security can be a key part of that retirement plan. The federal government bases eligibility on the length of your marriage and how recently you divorced. It’s also important to know that waiting to collect Social Security could increase the amount you receive.
Social Security benefits
Social Security is a program run by the federal government that guarantees an income for qualified retirees. You can start collecting Social Security benefits at age 62. However, if you wait until your full retirement age (66 to 67), you will receive a higher amount each month.
Divorced individuals may be eligible for Social Security spousal or survivor benefits in Florida. To qualify, you must have finalized your divorce at least two years prior to filing for spousal support, and your marriage must have lasted at least 10 years. You must be eligible to receive social security based on age or disability status.
If you are eligible for spousal or survivor benefits, the Social Security administration will base the amount on your former spouse’s earnings. The Social Security Administration’s website has an online calculator to help you estimate how much you can expect to receive in these circumstances.
It’s important to note that if you remarry before age 60, you will no longer be able to qualify for spousal or survivor benefits from your previous marriage. However, if your new marriage ends in divorce, widowhood or annulment after age 60, you may once again become eligible for benefits from your prior marriage.
Know your spousal rights to receive Social Security benefits based on your ex-spouse’s earnings. It could be a significant source of future income.