DivorceMag: Oregon FAQs

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If you RECEIVE spousal support,
do you think the amount is...

Frequently Asked Questions About Divorce

"My career was raising the kids. My attorney mentioned I would be entitled to Social Security benefits via my ex-husband's record. How does this work?"

CPA and CFP Ginita Wall answers: "If you were married for ten years or longer, and are single when you reach retirement age, you will be eligible to collect Social Security benefits based on your ex-spouse’s earnings record. Those “derivative benefits” are equal to one-half the amount your former spouse is eligible to collect, even though he earned those benefits over his entire career, including the years after your marriage was dissolved. You can collect derivative benefits even if he remarries, as long as they don’t exceed the benefits you receive on your own earnings. If you have been married nearly ten years, you might want to delay finalizing the divorce until after the ten-year mark..."

"I'm not certain my lawyer has a good handle on the financial aspects of my divorce; I'm not convinced I'm getting my fair share. What should I do?"

Divorce lawyer-mediator Mari Frank answers: "Since your spouse owns a business and has property, it is critical to employ a forensic accountant (CPA) who has extensive family law experience for the business, as well as a certified real estate appraiser since there is real property involved. Your attorney should be able to recommend qualified experts. If you and your spouse each hire your own experts, there will be great expense and time used up.

Even if your attorney has dealt with business valuations before, and you are concerned about spending money, you need to have an expert in the field to analyze your marital portion of the business including good will..."

"Is it better to give or receive one large lump-sum payment up-front than monthly spousal-support payments?"

CPA and CFP Ginita Wall answers: "For most couples, lump-sum spousal support looks appealing. She doesn't have to worry about whether the check is in the mail, and he doesn't have to worry about writing (and funding) the check. And best of all, it's one more tie that's cut, and they can move on with their lives.

That's the myth. Here's the reality. Ken asked Barbie if she'd accept a lump sum from his inherited trust fund instead of monthly payments. Barbie was entitled to $1,200-a-month spousal support until Ken retired in 15 years, so she did the math ($1,200 x 12 x 15) and was thrilled with the result: $216,000. Yes, she told Ken, I'll take it..."

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