• LinkedIn
  • About WDA
  • Attorney Testimonials
Call us now : 858-800-4176
Wellspring Divorce Advisors
  • Home
  • Locations
    • Denver, CO
    • Marin County, CA
    • Rhode Island
    • Rochester, NY
    • San Diego, CA
  • Divorce Options
    • Divorce Litigation Option
    • Divorce Mediation Option
    • Collaborative Divorce Option
  • Divorce Services
    • Divorce Financial Planning
    • Collaborative Divorce
    • Divorce Mediation
    • Attorney Services
    • Financial Planning after Divorce
  • Resources
    • Divorce FAQ’s
    • Dividing Personal Property
    • Post Divorce Financial Checklist
    • Common Divorce Financial Mistakes
  • Blog
  • Newsroom
  • Contact
  • Menu Menu

How Does Spousal Support Affect My Social Security Retirement Benefits?

How Does Spousal Support Affect My Social Security Retirement Benefits?

December 21, 2012/in Divorce Financial Planning /by Justin Reckers

From time to time we are involved in a divorce with an individual or couple who is already receiving Social Security benefits. It is important to consider the affect of spousal support payments on these benefits during your divorce financial planning.

  • Social Security Retirement benefits are entitlement based meaning you have to have paid into the system in order to be eligible for benefits. You are ENTITLED to a certain amount of funds in return based up on your contributions while working. These benefits are entitlement based  and not subject to reduction based on income from spousal support. Benefits may be reduced by income from earnings if the recipient is under the normal retirement age when they receive benefits. Benefits may also be reduced for taxes and or Medicare premiums. This can be determined by reviewing the participants pay-stub.
  • Supplemental Security Income (SSI), also a Social Security benefit, is a needs based program which means you must prove you NEED the funds because of limited resources. It is, to my knowledge, reserved for those who did not contribute enough into the system to be eligible for the entitlement based programs. Supplemental Security Income has income limits for eligibility because it is NEED based. A participants’s eligibility can be affected if they earn over a certain level of income or receive support payments so it is very important to recognize the difference in your divorce financial planning.

Here is the link to the Social Security Administration web site https://www.socialsecurity.gov/pubs/10069.html#a0=-1 . A Certified Divorce Financial Analyst can help you navigate the many complications of the Social Security programs.

Tags: Divorce Financial Planning, Social Security
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on Pinterest
  • Share on LinkedIn
  • Share on Reddit
  • Share by Mail

Categories

  • California Divorce Dictionary
  • Collaborative Divorce
  • Divorce Financial Planning
  • Divorce Mediation
  • Financial Infidelity
  • General
  • Gray Divorce
  • High Net Worth Divorce
  • Lists Worth Knowing
  • Military Divorce
  • Post Divorce Financial Planning
  • Prenuptial Agreements

Recent Posts

  • Dependency Exemptions & Child Tax Credits: We Get Why You’re Confused

    Dependency Exemptions & Child Tax Credits: We Get Why You’re Confused

    February 5, 2019
  • Who Should Move out When a Family Gets Divorced?

    Who Should Move out When a Family Gets Divorced?

    August 17, 2018
  • Divorce & Finances: Can you afford your new life?

    Divorce & Finances: Can you afford your new life?

    May 3, 2018
  • Protecting your Assets: How the TCJA will affect the Denver Housing Market

    Protecting your Assets: How the TCJA will affect the Denver Housing Market

    December 21, 2017

Archives

  • Year 2019
  • Year 2018
  • Year 2017
  • Year 2016
  • Year 2015
  • Year 2014
  • Year 2013
  • Year 2012
  • Year 2011
  • Year 2010
  • Year 2009

Get In touch

  • 703 Palomar Airport Road, Suite 240
    Carlsbad CA 92011
  • Phone: 858-800-4176
  • Email: jreckers@localhost

Popular Posts

  • Dependency Exemptions & Child Tax Credits: We Get Why You’re Confused
  • Who Should Move out When a Family Gets Divorced?

© 2023 Wellspring Divorce Advisors.
  • LinkedIn
  • Home
  • Locations
  • Divorce Options
  • Divorce Services
  • Resources
  • Blog
  • Newsroom
  • Contact
Financial Crisis Still Causing Complications in Finances of Divorce financial planning, CDFA Divorce Financial Planning: Concentrated Stock Holdings During Divorce Scroll to top