Ask Larry

Can We Get More By Getting Divorced?

Hi Larry - I want to make sure I understand. 2 people (husband and wife) exact same age (born 1964), both high earners over many years, 0 children, no disabilities & can afford to wait to age 70. Can these 2 people increase their earnings by divorcing at age 68 and receiving 2 social security checks instead of just 1 reduced/combined check?

You need to have been 62 by January 1, 2016 to collect just a spousal or a divorced spousal benefit starting at full retirement age. You folks are too young. You'll be deemed to be filing for your retirement benefits whenever you file for spousal benefits. This is thanks to the new law passed in November 2015.

If you can wait till age 70, that will be best unless you have relatively low maximum ages of life.

best, Larry

Jun 9 2016 - 12:00am
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