4 Social Security Strategies for Divorced Spouses Who Are Getting Their Finances Together

Navigating the intricacies of Social Security benefits — such as when to start claiming — can be overwhelming. And when it comes to divorced individuals, it can add another layer of complexity.

Check Out: I’m an Economist — Here’s My Prediction for Social Security If Kamala Harris Wins the Election

Read Next: 7 Reasons Future Retirees Should Consider a Financial Advisor

In fact, this year, 41% of Americans didn’t know that if they get divorced, they might be able to collect Social Security benefits based on their ex-spouse’s Social Security earnings history, according to a MassMutual survey.

“The first thing to do is to fully educate themselves on their eligibility,” said Bobbi Rebell, CFP and founder of Financial Wellness Strategies .

Here are some Social Security strategies for divorced spouses, according to experts.

Learn More: 8 States To Move to If You Don’t Want To Pay Taxes on Social Security

Money mistakes the super wealthy never make - that you might be doing now.

Spousal Benefit Rules Are Different for Ex-Spouses

One important strategy for divorced individuals is to develop an understanding of the spousal benefit rules.

Unlike married couples — where the higher-earning spouse must file for benefits first — divorced individuals can claim spousal benefits based on their ex-spouse’s record even if the ex-spouse hasn’t applied for their own benefits, explained Devin Carroll, owner and lead advisor at Carroll Advisory Group .

To qualify, you must have been divorced for at least two years, and your ex-spouse must be at least 62 years old.

“If you meet these criteria, you could receive up to 50% of your ex-spouse’s full retirement age benefit,” said Carroll. “For example, if your ex-spouse’s benefit is $2,000, you could receive $1,000. However, the actual amount will vary depending on your age at the time you file for benefits.”

According to the Social Security Administration (SSA), additional criteria to be eligible for divorced spouse benefits include to not be currently married; be divorced from a person who receives Social Security retirement or disability benefits; have been married to that person for at least 10 years before the date the divorce became final; and not be entitled an equal or higher retirement or disability benefits.

Be Proactive and Seek Professional Advice

Another crucial point: Don’t rely on the SSA to inform you about higher benefits.

As Carroll noted, the SSA won’t automatically tell you if claiming benefits based on an ex-spouse’s record is more advantageous than your current benefits. Knowing the rules and asking the right questions is up to you.

“After a divorce, the SSA no longer provides updates on your ex-spouse’s benefit amount, so you need to be proactive,” he added. He noted that failing to understand and ask about these benefits could mean missing out on higher payments that you’re entitled to receive.

“This is why it’s essential to be informed and seek professional advice when navigating Social Security benefits post-divorce,” he said.

Check Your Own Retirement Benefits

Checking your own retirement benefits is also of key importance, strategically. If they are higher than those of the ex-spouse, that’s the way to go. You cannot collect both, Rebell said.

“Make sure to be really intentional and understand the consequences of your decision,” she added. “Keep in mind, what you collect does not impact what your ex collects.”

What If You Remarry?

Another point to keep in mind, according to Rebell, is that if you remarry, you lose your ex-spouse’s benefits. However, your own Social Security benefits will not be impacted.

“However, if your current marriage ends in divorce or the death of your spouse, you will be able to claim on whichever benefit is higher, your surviving spouse’s benefit (if your current spouse dies) or your spousal benefit on the earlier ex (assuming you meet all the rules for claiming as an ex),” Fidelity detailed.

This article originally appeared on GOBankingRates.com : 4 Social Security Strategies for Divorced Spouses Who Are Getting Their Finances Together