Planning for Retirement Post-Divorce

  • Divorce
April 21, 2023

Planning for retirement post-divorce should be considered at the time of the divorce. People should consider income from Social Security or PERA and Retirement Accounts.

If your spouse was the primary wage earner, you may be eligible to receive Social Security Benefits based on your spouse’s earnings. If your marriage to your spouse was at least ten (10) years long, you have not remarried, you are at least 62, the benefit that you would otherwise receive is less than what you would receive based on your spouse’s work history, and your ex-spouse is entitled to receive Social Security Retirement or Disability benefits. You may receive a figure equal to 50% of your spouse’s benefit. If you are a spouse whose social security earnings will be higher than the other, your benefits are not reduced if your ex-spouse collects additional benefits based on your work history. You can get an estimate of your future benefits by visiting the Social Security website

Court-ordered maintenance is modifiable, so payors often move to modify it when they retire—however, some orders are non-modifiable for a set period of time. If you are the higher-earning spouse, it is important to plan to lower other expenses so that you can meet the maintenance obligation you are ordered to pay. If you are the lower-earning spouse, consider whether you are going to be able to meet your reasonable needs based on maintenance or do you need to look for other supplemental income?

Retirement assets or income will be divided at the time of divorce. Once this occurs, it is important to consider meeting with a financial advisor to make sure your investments are organized best for your future. In addition, you may need to increase your contributions to your retirement to meet your retirement goals.

Contact the Experts

For specific information regarding dividing retirement accounts during divorce contact an experienced family law attorney at Jorgensen, Brownell & Pepin, P.C. today.

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