By SYLVIA GORDON
Guest Columnist
There is a bad joke I often find myself telling when people ask me how much they can draw off their ex-spouse if he is alive. The answer is 50 percent, but if he passes away, you can get up to 100 percent of what he was drawing. Hence, the joke is that he is worth more dead than alive.
The dark humor aside, it is true. And when dealing with arcane Social Security laws, I allow myself a little fun.
If you were married at least 10 full years and then divorce, you are able to draw either your own Social Security retirement benefit or, if 50 percent of your ex’s is more than 100 percent of your own, you can draw off your ex-spouse. If he has remarried, that has no impact on your ability to draw off of him. Before you cry foul, rest assured that you drawing off of him will not reduce what he can draw nor what his current or other ex-spouses can draw!
To be eligible to draw off your ex-spouse you must be currently single. That means that you could have remarried and divorced again, as long as you are single when you attempt to draw. You can remarry at age 60 without penalty.
I’ve encountered several women who told me they didn’t want to draw off their ex because he was married to a very nice woman and she didn’t want to upset him, her or their children. Everyone was relieved when I pointed out that drawing off her ex would not reduce or in any way hurt his ability to draw too.
How can you find out if 50 percent of your ex’s is more than 100 percent of your Social Security? Call your local Social Security office. They will need proof you were married and divorced before they will share the information with you. You can set up a free account at SSA.gov to see your own earnings, but keep in mind that the Social Security Administration is not allowed to give you advice.
Social Security is complex and it has had many changes since the 1930s. Many people are unaware that the law dramatically changed in 2016. And the laws will continue to change. The Social Security Fairness Act has bipartisan support and might be passed this year. Luckily, a quick Google search easily yields many answers that in the past were very hard to come by.
Sylvia Gordon is the president of Gordon Marketing, headquartered in Noblesville, where she trains on Medicare and Social Security in all 50 states. You can contact her at sgordon@gordonmarketing.com.
I am a widower- I drew some from my wife until I started my Soc Sec draw. Then they stopped my wife’s payment. Did I miss something??
You were drawing Survivor benefits on your wife, but then you switched to your own retirement benefits because they were higher. You can only draw one benefit, whichever amount it higher. This stuff is just complex!