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ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 190
Experience:  Business Consultant/Accounting Manager
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I am getting divorced from my wife of 35 years. We have had

Customer Question

I am getting divorced from my wife of 35 years. We have had a business together for the last 17 years and other business before that.
She is about to turn 62 and wants to retire,
We do not have separate incomes, in fact most of the checks were written out to her.
Should she retire before or after the divorce?
Which way would get her the most benefits?
What will happen when I decide to retire which could be between next 5 to 15 yrs.
I heard that the amount of social security benefits you receive is based on last 5 years of your income, is this true? If not, what is it based on?
Submitted: 27 days ago.
Category: Social Security
Expert:  ABC Accounting Group replied 27 days ago.

Hi. Great Questions. If your spouse does not remarry, she will get the same benefit, as she would if she stayed married.

On the 2nd question - Your Social Security retirement benefit is based on the highest 35 years of income indexed to current dollars.

Expert:  ABC Accounting Group replied 27 days ago.

If you have any questions, let me know. If not, a positive rating is very much appreciated.

Customer: replied 27 days ago.
But if we are not married, will the amount be split? We have always filed jointly. So let's say together we qualified for $1000 per month, does that mean separate and divorced we would only get $500 each per month?
Expert:  ABC Accounting Group replied 27 days ago.

Quick Question - just confirming - is your question on social security retirement benefits you are receiving? If so, there is no difference if you file jointly or separately. Let me know if you have any questions. Thank you.

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