Divorce and Remarriage Article
Marital Status and your Finances
Seniors own the bulk of the state’s wealth in savings, home equity and other property. At this point in your life, you may have more at stake when you change your marital status. Or, you may be a widow living on Social Security income alone. If you choose to remarry, be aware of your decision’s potential impact on your finances.
If I get divorced, can I still get Social Security benefits on my husband’s work record?
Yes, if your ex-husband is receiving benefits or is deceased, so long as you were married to him for at least 10 years, and so long as you remain single. If your ex-husband is 62 years old or older and has not applied for benefits, you can still receive benefits on his record as long as you are at least 62 as well. You must, however, be divorced and single for at least two years before seeking such benefits. Your Social Security benefit amount will be the higher of (a) the benefit based on your work record, if any; or (b) one-half of the amount of your ex-husband’s benefit.
Will I continue to receive Social Security benefits as a widow (or widower) if I remarry?
Yes, if you are at least 60 years old when you remarry. (A widow or widower isn’t actually eligible for benefits until age 60 or, if disabled, until age 50.) Or you could apply to receive benefits based on your new spouse’s work record instead if those benefits would be higher. If you remarry before turning 60, however, you will be ineligible for widow’s benefits throughout your marriage.
For more information, visit Social Security on-line or by phone at (800) 772-1213.
Do I need to change my will in order to remove my ex-spouse as a beneficiary?
Unless your will states otherwise, your divorce automatically revokes any provisions naming your ex-spouse as a beneficiary or as an executor, trustee, conservator or guardian. (ARS §14-2804) You do have to change the beneficiary designations for your life insurance and individual retirement accounts after divorce.
Is it true that I will pay higher taxes if I remarry?
About 40% of married people do pay higher taxes than those who are single with the same tax circumstances. About 50% will pay less, and the rest about the same amount of taxes.
The possibility of a penalty for filing jointly increases above the 25% tax bracket, but overall, the “marriage penalty” tax is not as universal as once believed. You should have your specific tax circumstances analyzed by a tax professional in preparation for remarrying.Comments:
QUESTIONS
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My husband is a drug addict who has been evading service as of 2014/2015. Just when I was almost done with proceedings, he moved to a different state. I didn't have the money to start over and have since become unemployed. I don't want to end up responsible for his bills once my bankruptcy is through. How can I get help? My area states they don't handle divorces so I don't know where to turn.
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I was incarcerated in july of this year and was released just recently, during that time my wife and 2 children had moved to kansas I am most likely to file for divorce and will be seeking joint custody. I am planning on having the kids for their summer break and winter breaks.Since she is out of state what is the procedure for this to occur and what must I file,also will she have to come back to Arizona for the proceedings or can she remain in Kansas?
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Hello, My husband and I divorced after 46 years of marriage Jan 16,2014. We remained in the same home until I was hospitalized and then moved in with my daughter. My husband got our vehicles in the divorce. He has since passed away Jan of 2015. I found that the vehicles were never transferred from "or" status his name or my name. I am legally entitled to the vehicle. His son was named as the sole heir in his trust.
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I have not seen my husband for 30 years. We have not been together since 1987. I am in the process of receiving my retirement benefits, I do not want him to receive any of my benefits or be listed as my dependent/spouse on my pension since I have never been with or seen him in 30 years. Please tell me how I should proceed in getting divorce/legal separation?? abandoned ex-wife
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how long i have to wait to get remarried after having the decree of divorce?
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Is there a time limit between filing a legal seperation and filing a divorce?
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If divorce papers state that house to be sold, but wife will not sell it, what can be done?
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I gave revocable guardianship to my mom when I moved out of state so the kids could finish that school year and I started my new job. Now that I have petitioned to revoke guardianship, she is suing me for custody. I am so far and not sure how to handle this.
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I have recently moved back to arizona,my husband resides in illinois and has filed for divorce. I was told i can't file any papers here to respond to what i was served, and i have no idea what to do or what is going on. Can someone please help me
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Am I responsible for debt incurred prior to marriage at anytime?
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