Curious about how Social Security benefits work if you're divorced? In this episode of Elevate Wealth, Deanne Rosso and Clarke Holt from Elevate Wealth Advisory discuss the eligibility criteria for claiming benefits based on an ex-spouse's work record. Clarke explains the requirements, and using President candidate Donald Trump as an example, they illustrate how multiple ex-spouses can claim benefits without affecting each other's or the primary beneficiary's benefits.

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Most people are aware that Social Security offers a spousal benefit, but what if you're divorced? We'll explore this today on Elevate Wealth. Hey, I'm Deanne Rosso, and I'm joined again by wealth adviser Clarke Holt. Hey, Clarke! Hey. And so this is a really important question. Clarke, how does Social Security work if you're divorced? So yes, if you were married for 10 years, you're currently unmarried, and you're 62 or older, you can claim benefits on your ex-spouse's work history. Okay. It does not affect your ex-spouse's benefits if you do this. Oh, okay. You know, I think we explain this to people a lot of the time, they're not sure that they can do this, and a good public figure example of this is former president Donald Trump, regardless of how you feel about him politically or personally, but his scenario is a good example of Social Security claiming strategy for ex-spouses and spouses. So he's been married three times. The first time to Ivana, and they were married a very long time, more than 10 years, so when she became eligible age of Social Security she could have claimed on Donald as her ex-spouse's record. Then he was married the second time to Marla Maples, but they were only married about six years, so she doesn't get to claim on his record, and then he's currently married for the third time, Melania, currently still married to Melania, so as his spouse she's eligible for a spousal benefit. So that's a good example of an ex-spouse who would get a benefit, an ex-spouse who wouldn't get a benefit, and a current spouse who gets a benefit, but but all of these spouses and the the claimer, the filer himself, Donald, they all get a benefit that's unreduced for each other, nothing's dependent on one another, an example. A lot of people don't know that. So I think it's really interesting to explore these um ex-spouse claiming strategies, and thanks for being here to share this with us. Thank you! Yeah, sure, so if you're divorced, and you're wondering what do I do when it comes to claiming your Social Security benefit, we're here to help. Visit us at elevate-wealth.com and click "Let's talk!" Thanks, and see you next time.

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