Blast From The Past: A Post-Divorce Checklist

divorce estate planning social security

PUBLISHER’S UPDATE: Here is one of my favorites posts about moving forward with a post-divorce checklist from back on August 1, 2020! We have a ton of interesting articles in our archives of the Ohio Family Law Blog. Use our Search tool and enjoy a few oldie but goodies!

Move Forward With These Important Transition Tips

divorce estate planning social securitySo you have are about to finish your divorce case. Now what? While there is a lot of information about divorce and the process itself online, there is much less about the “afterlife”. Presumably you have been considering this day for a long time, and have maybe even obtained some psychological counseling/therapy to help with the post-divorce transition.

Here are some suggestions to help you get moving forward in a positive manner and avoid divorce  paralysis that occurs in many cases.

  1. REVIEW ALL YOUR DIVORCE DOCUMENTS – Don’t just throw the divorce decree and orders in a drawer after the case is over never to see the light of day again. Be sure to make a checklist of all loose ends that are mentioned in the Decree that need to be completed and attended to such as filing quit claim deeds, changing titles
… Read More... “Blast From The Past: A Post-Divorce Checklist”

Divorced? Are You Eligible to Collect Social Security Benefits off Your Ex’s Record?

social security benefits divorce retirement benefits

Divorced Spouse Can Collect Social Security Benefits Under Certain Conditions

A Divorced Spouse May Be Eligible For Social Security Benefits Once They Hit Retirement Age

social security benefits divorce retirement benefitsTypically, when a divorce is settled, so are the marital assets. Yet, not a lot of people know that as you reach retirement age, there may be one more benefit you can collect from your divorce.

In a MassMutual poll conducted in 2021, 30% of individuals didn’t know that a divorced person may potentially collect social security benefits on their ex-spouse, once they hit retirement age.

Back in May of 2016, we discussed Social Security benefits  after the divorce is finalized in our post, “Social Security Benefits Can Be Maximized Post Final Divorce Decree“, but with divorce rates highest among those ages 55-64, according to the US Census Bureau, it’s a good topic to revisit and reiterate, especially if you’re nearing retirement age.

Now in order to qualify for the divorced spouse Social Security Benefits, there are a few conditions that ”must” be met:

  • Your marriage lasted 10 or more years; and
  • You are at least 62 years and not remarried; and
  • Your ex-spouse is eligible for Social
… Read More... “Divorced? Are You Eligible to Collect Social Security Benefits off Your Ex’s Record?”

A Post-Divorce Checklist

divorce estate planning social security

Move Forward With These Important Transition Tips

divorce estate planning social securitySo you have are about to finish your divorce case. Now what? While there is a lot of information about divorce and the process itself online, there is much less about the “afterlife”. Presumably you have been considering this day for a long time, and have maybe even obtained some psychological counseling/therapy to help with the post-divorce transition.

Here are some suggestions to help you get moving forward in a positive manner and avoid divorce  paralysis that occurs in many cases.

  1. REVIEW ALL YOUR DIVORCE DOCUMENTS – Don’t just throw the divorce decree and orders in a drawer after the case is over never to see the light of day again. Be sure to make a checklist of all loose ends that are mentioned in the Decree that need to be completed and attended to such as filing quit claim deeds, changing titles on vehicles, changing ownership of bank and other accounts, closing out credit cards, filing Qualified Retirement Division Orders (QRDO’s), and the like. Don’t just assume that your lawyer will complete these tasks without your participation.
  2. REVIEW YOUR OTHER IMPORTANT DOCUMENTS – This is a perfect opportunity to review your
… Read More... “A Post-Divorce Checklist”

Disabled Individuals May Save and Invest Without Losing Need-Based Benefits

social security stable disability benefits

Social Security Disability Benefits

New Investment Program, “STABLE” Available To Disabled Ohioans Who Are On Social Security Disability Benefits

social security stable disability benefitsBack in 2016, then Ohio Treasurer Josh Mandel announced a new program called STABLE, which created a new type of investment account that had certain tax advantages, and was available to disabled Ohioans and their families. Ohio was the first state to create such a program, and it has since been expanded to residents of all states.

A person is considered eligible for a STABLE account if they are entitled to receive Supplemental Security Income (SSI) because of their disability, Social Security Disability Insurance (SSDI) because of their disability, have a condition listed on the Social Security Administration’s List (https://www.ssa.gov/compassionateallowances/conditions.htm), or be able to ‘self certify’ their disability and diagnosis via a certain set of procedures including a signed diagnosis from a licensed physician in most cases. Such an account allows individuals with disabilities to save and invest without losing needs-based benefits.

Participants in the program can choose from five different investment options.  Anyone, including family and friends, can contribute to an account, and a maximum yearly contribution of $15,000 a year can be made … Read More... “Disabled Individuals May Save and Invest Without Losing Need-Based Benefits”

Special Needs Trusts in Ohio in a Nutshell

special needs trusts medicaid ohioShould an individual with special needs receive a large sum of money, it is often wise to have the individual or his/her fiduciary establish a special needs trust in order to not jeopardize assistance already being received such as Medicaid or SSI.  Should a parent or grandparent wish to provide funds to a special needs individual and not jeopardize assistance being received, a special needs trust may also be a good idea.  However, before embarking on such an endeavor, it is critical to understand the different types of special needs trusts and their requirements or else risk losing the benefits already being received.

Set Up Special Needs Trusts To Protect Existing SSI Or Medicaid Benefits

The most common special needs trust created by and with assets of a third party is known as a discretionary “supplemental needs” trust.  With such a trust, there is no requirement that funds be turned over to the state upon the death of the beneficiary.  However, proper drafting is critical.  It is to be used for things not covered by Medicaid or SSI.  It must clearly state that it cannot be used for medical care, comfort, maintenance, health, welfare or general well-being.  It should … Read More... “Special Needs Trusts in Ohio in a Nutshell”

Social Security Benefits Can Be Maximized Post Final Divorce Decree

Divorce Final? How To Maximize Your Social Security Retirement Benefit By Utilizing The Divorced Spouse Benefit

social security retirement benefit divorceYour divorce is finalized!  It is over and done, and you have moved on with your life.  The assets, monetary accounts, retirement accounts, and the like all have been divided per the divorce decree.  With that divorce decree in hand, you ex-spouse is no longer entitled to any future benefit you may receive, and that goes the same for you.  However, there is one benefit you want to keep in mind when you are approaching retirement age.  That benefit is the ability to collect Social Security Retirement on your ex-spouses record even if he or she has remarried!  Like all government benefits there are some requirements you must meet in order to collect under your ex-spouse’s work record.

This benefit, entitled divorced spouse benefit, requires the following:

  • Your marriage lasted 10 years or longer;
  • You are currently unmarried;
  • You are 62 years or older;
  • Your ex-spouse is entitled to Social Security retirement or disability benefits; and
  • The benefit you are entitled to receive based on your own work record is less than the benefit you would receive based on your ex-spouse’s work record.

If … Read More... “Social Security Benefits Can Be Maximized Post Final Divorce Decree”

Social Security and Divorce Alert

“The problem with receiving unearned income through adjudication/settlement agreements In A divorce or dissolution when one receives social security income or social security disability income”

social securityIf you are a recipient of Social Security Income or Social Security Disability Income  and you are going through a divorce or dissolution, your first step should be to find an attorney who has a good working knowledge of social security income and social security disability income. Spousal support, child support, and property settlements are often the main issues in any divorce or dissolution. Not only does spousal support, child support and property settlements encompass a great deal of the divorce or dissolution proceeding, but when one receives these things as part of a global settlement or adjudication, and they are also receiving social security income, social security disability income, Medicare, or Medicaid, one can find that what they want and what they get can be often two very different things.

When the Social Security Administration determines the amount a recipient receives, they subtract what is known as “countable income” from the SSI base rate. The Federal SSI base rate for 2012 is $674.00 for an individual. Countable income is anything that is received in … Read More... “Social Security and Divorce Alert”

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