Written By: Anushka
The government has introduced changes affecting retirees' Social Security income. A state court ruling now includes Social Security benefits in determining alimony amounts.
The Colorado Court of Appeals ruled that Social Security can be used as income in alimony calculations, affecting many retirees' income.
Retirees may see changes in their Social Security income as it is now considered in alimony payments. This could lead to higher payments for some.
Judge David H. Yun highlighted that federal law allows Social Security benefits to be considered income in alimony cases, impacting retirees.
Retirees paying alimony with Social Security benefits may face increased monthly payments. Some may contest the amount they pay or receive.
Many states already regard Social Security as income for alimony. The new ruling may surprise those unaware of this practice.
Financial expert Kevin Thompson notes that many seniors might be unaffected due to spousal benefits offsetting Social Security income pressures.