QUESTION
Should a spouse pay half of his SSA benefit as part of alimony?
Asked on Feb 18th, 2022 on Divorce - New Jersey
More details to this question:
I am 71 years old and retired. My wife is 61. She is not employed currently. She probably has 10 years of Social Security contributions from her previous employment (not sure). The SSA benefit she can get when she reaches retirement age (67) will be less than the SSA benefit I am getting. We are contemplating on filing for divorce in the second half of this year. After the divorce settlement, will I need to pay her 50% of my SSA benefit as part of alimony if she decides not apply for SSA benefit?
1 ANSWER
Divorce Attorney serving Short Hills, NJ
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Diamond & Diamond, P.A.
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You need to have a consultation with a divorce law specialist to review your respective asset structure and your anticipated income settings moving forward. It would be unfortunate for you to presume to know what your income setting will look like in retirement, only to find out that your understanding was wrong.
Answered on Feb 21st, 2022 at 6:20 AM