Because divorces often occur later in a couple’s marriage, many have questions regarding what, if any social security benefits they are entitled to under the name of an ex-spouse. This is especially true when a spouse has little work history of their own, perhaps even making them ineligible for social security under their own record….Read More
Ex-Spouse Social Security Benefits
Couples that are divorcing later in life, aka gray divorce, may wonder if they are eligible for a portion of their ex-spouse’s social security benefits and the answer is yes, you are entitled to half if: you were married for 10 years or more you are at least 62 in age you remain unmarried your…Read More
Am I Entitled to Spousal Retirement Benefits After Divorce?
As we have reported in past posts, divorce among the 50 and older demographic is on the rise in Illinois and the rest of the country. Going through divorce later in life can be particularly stressful because the split is taking place so close to retirement. While many Americans retire with their own retirement savings,…Read More
Don’t let divorce disrupt your retirement plans
Divorce can be a very stressful thing to go through at any age. But for couples approaching retirement, it can cause added worry about the future. During an Illinois divorce, all marital assets — including retirement accounts — must be split equitably between the parties. That means some individuals could end up losing up to…Read More
Divorcing later in life serves up financial concerns
Divorce can involve unique issues depending on which stage of life a married couple is in. For example, for an Illinois couple with young children, child custody and child support will undoubtedly be very important. For married couples who are nearing retirement age and decide to divorce, property division — especially retirement property — is…Read More
