Question: I am 66 years old and have just retired. My husband is 60 and still working. I receive income from Social Security and my pension. My husband has decided after 40 years of marriage that he wants out. Our children are grown. My husband’s income is less than my Social Security and small pension together. To stay out of court, my lawyer advised me to sign an agreement that when my husband retires, I will give him 40 percent of my Social Security payments because his will be lower than mine. I am having second thoughts about this. How can I back out of this agreement?

Answer: The question here is whether the ill-advised agreement your lawyer suggested calls for you to divide your Social Security as property, or to pay 40 percent of your Social Security to your husband as alimony after he retires.

While there is no way to tell without reading the agreement and knowing your intent – if, in fact, there was one, it would appear to us that your deal was one in which the two of you agreed you would share your future Social Security benefits as property. If that is the case, then your agreement is invalid under federal law because Social Security benefits paid by one spouse to another can’t be classified as marital property.

One spouse can’t transfer or assign Social Security payments or future rights to another spouse. This means that your agreement can’t be enforced; however, if your payments are ruled to be alimony, that is a different story because your Social Security payments can then be considered. The same is true when it comes to guidelines of child support.

Bottom line: If awarded as support, your Social Security benefits could be subjected to garnishment. If awarded as property, however, they can’t be reached. For those of you who are in the same boat, sometimes going to court is not such a bad thing.

Question: I want a divorce, but am afraid to make a move after 40-plus years of marriage and not working outside the home. My husband is six years younger than I, and I have supported his career and put him through school. I even put my inheritance into the marriage. I have no money of my own. How do I get started?

Answer: Very carefully. Depending on where you live, unless there is some danger that prevents you from living under the same roof with your husband, we suggest that you have your plans in place before you slam that door for the last time. Some state laws require that you be able to prove a good reason for leaving, while others don’t place that much weight on fault.

Regardless, you should get your economic house in order first. Since you have apparently allowed your inheritance to be absorbed into the marriage, you may have converted what would have been separate property into marital assets. Your husband’s business will have to be valued. Find out what it will cost for you to live alone by checking with a realtor about the cost of various living accommodations. Create a budget and learn about your health insurance.

The need to leave may have to take a back seat to the need to plan because if you don’t prepare financially, you may find yourself in a hole so deep you will not be able to claw your way out.