Social Security is the primary source of income for millions of retirees. But there's a lot of confusion about how divorce affects benefits for ex-spouses. With complex rules, divorced spouses need to understand the ramifications of certain decisions on their Social Security benefits.
In the following video, Dan Caplinger, The Motley Fool's director of investment planning, runs through the basics of Social Security rules governing ex-spouses. Dan points out that 10 years is the key time frame for the length of a marriage to give divorced spouses rights to claim benefits based on their ex-spouse's work history. Moreover, Dan notes that your ex-spouse's future marital status doesn't matter, but if you remarry, it can close the door to collecting benefits based on your ex-spouse's earnings. Dan concludes with some special rules governing survivors' benefits that are more lenient on those who remarry.
Get the Social Security benefits you deserve
Social Security is complicated, but you need to claim every penny you're entitled to under the program in order to have a financially secure retirement. In our brand-new free report, "Make Social Security Work Harder for You," our retirement experts give their insight on making all the key decisions that will help ensure a more comfortable retirement for you and your family. Click here to get your copy today.