This is a generic Affidavit to accompany a Motion to amend or strike alimony provisions of a divorce decree because of the obligor spouse's changed financial condition. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Spousal Support With Social Security In Virginia
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US-00004BG-I
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The Social Security spousal benefits loophole refers to strategies that some married couples have used to maximize their Social Security benefits. These strategies were allowed under prior rules but were curtailed by changes made in the Bipartisan Budget Act of 2015.
The spousal benefit can be as much as half of the worker's "primary insurance amount," depending on the spouse's age at retirement. If the spouse begins receiving benefits before "normal (or full) retirement age," the spouse will receive a reduced benefit.
This Social Security Spousal Rule Finally Fizzled Out in 2024 — But These 3 Strategies Remain. A Social Security spousal rule that was around for decades ended this year for the last eligible retirees — those who turned 70 on Jan. 1, 2024.
These factors include: the incomes and financial needs of both parties, the duration of the marriage, the standard of living established during the marriage, etc.
62 years of age or older.
Randall, in order for your wife to be eligible for spousal benefits, you need to have already filed for your own benefits. If that's the case and your wife is at least 62 years old, she can apply for her spousal benefit.
Factors that may determine spousal support in Virginia include but are not limited to: Factors which contributed to the dissolution of the marriage. Age differences between the two parties. Assets owned by either party. Debts owed by one or both parties.
There is no fixed rule or set duration that automatically makes one spouse eligible or ineligible for alimony payments. However, marriage length is a crucial factor judges consider when determining whether to award alimony and, if so, how much and for how long.
The formula stated in § 16.1-278. is: (a) 30% of the gross income of the payor less 50% of the gross income of the payee in cases with no minor children and (b) 28% of the gross income of the payor less 58% of the gross income of the payee in cases where the parties have minor children in common.
One of the most significant disqualifying factors for alimony in Virginia is adultery. If you've been unfaithful during your marriage, you may lose your right to receive spousal support. Other fault-based grounds for divorce, such as cruelty or desertion, can also impact alimony decisions.
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Existing financial resources – The financial resources available to both spouses will be considered. The court may increase, decrease, or terminate the amount or duration of any spousal support and maintenance that may thereafter accrue.If you are seeking spousal support in Virginia, contact Smith Strong, PLC today at to schedule a SmartStart Comprehensive Case Preparation Meeting. You could get up to half of your family member's benefit amount and may be eligible for Medicare based on their work history. There are a few key points to make that will help you understand these guidelines. The Virginia legislature made major changes in the laws governing the modification of spousal support obligations that went into effect on July 1, 2018. No. If your ex-spouse claims spousal benefits based on your work, this will not affect your Social Security monthly benefits. Our Raleigh Divorce Lawyers Can Help. Concerned about Social Security Benefits in a Divorce? Social Security provides benefits and financial protection for you.