As we near the end of the Social Security Retirement Benefits portion (Medicare up next), the final Three Parts will be directly related to spousal benefits. Spousal benefits are EXACTLY the same no matter gender, so insert your preference for the easiest understanding.
Parts (8-10) will deal with the status of the spouse and how it effects retirement benefits for the other spouse:
- Living
- Deceased
- Divorced
As just a heads up, each section will become more detailed and complicated – so let’s get started on the various spouse benefits depending on the other’s status!
In Part 9, from our Social Security Event earlier this year, Expert, Mr. Tom Clark, continued with the specifics of Social Security, Retirement Benefits for DECEASED spouses …. that Social Security Provides. As a refresher, Part 1 Here , Part 2 Here , Part 3 Here, Part 4 Here, Part 5 Here, Part 6 here, Part 7 here, Part 8 here and Direct Audio Here on our site for your viewing/listening pleasures:
Retirement Benefits for DECEASED Spouses
The following bullets will explain in type form the audio, please take a minute to listen as there is a ton of information in just 4 minutes:
- Husband and Wife benefits same for deceased
- Unlike living, a Widow Benefit based of FULL UN-REDUCED amount of Social Security Benefit
- Example: Widow drawing own benefit spouse dies, the spouses benefit increased to the full amount
- Widow can draw at age 60 unlike any other benefit
- Widow DOES NOT have to take own benefit – can delay own OR draw deceased spouse – this gives various options and strategies
- Cannot marry again before age 60 to have the prior example
- So complicated, Mr. Clark suggests we go to Social Security options to make an informed decision
- Bring Marriage Certificate – any proof of your benefit beneficiary
- Strategy available for Widows due to the options available- i.e. Draw your own, delay widow or visa versa – its complicated but there likely is a right and wrong answer
- “If you were married to a high wage earner, might consider waiting until age 60 before getting remarried!” Says Clark – near end of the audio
Dealing with Deceased spousal benefits allows the most options of almost any Social Security Benefits, these options lead to complications, but also maximization strategies …
Be sure to listen to the audio below from the event, it is very informative
Wave file format:
MP3 Format:
OGG File Format:
Click Here for Direct Link to All Parts Audio Posted on our Special Social Security Page
Have a Great “Deceased Spousal Benefits Explained” Day!
John A. Kvale CFA, CFP
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