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:

1. Living
2. Deceased
3. 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

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

As we near the end of the Social Security Retirement Benefits portion (Medicare up next), the final/next 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.

The Next Three Parts (8-10) will deal with the status of the spouse and how it effects retirement benefits for the other spouse:

1. Living
2. Deceased
3. 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 8, from our  Social Security Event earlier this year, Expert, Mr. Tom Clark, continued with the specifics of Social Security, Retirement Benefits for living spouses …. that Social Security Provides. Part 1 Here , Part 2 Here , Part 3 Here, Part 4 Here,  Part 5 Here, Part 6 here, Part 7 here, and Direct Audio Here on our site for your viewing/listening pleasures:

Retirement Benefits for Living Spouses

The following bullets and audio will expel many false items you may have heard …

• Spouse (wife in Clark’s examples) CAN receive benefits based on her spouses benefits, ONLY if she will not receive more benefits by drawing her own benefits
• If she were to receive a benefit check greater than one half of her spouses benefit, she MUST draw the higher amount due from her benefit
• One time based exception to the above statements – this exception is quickly fading due to timing of the laws passed –
• Spouse must be age 62
• Other spouse MUST be drawing own benefits in order to have spousal benefit
• All spousal benefits are based on one half the other spouse full retirement age benefit
• Benefit is reduced for spouse based on early age i.e. Spouse is 62 benefit will be reduced – Read next -Important
• If spouse is older than wage earning spouse, the benefit will NOT be discounted and will be half of the wage earnings spouses full benefit – in effect greater than one half the early retiring spouses benefit – Great Example at 2 minute mark of audio

Wow, there is so much clarity in the following 2+ minutes of audio, we hope you enjoy – feel free to listen more than once – it took at least a dozen times to get this edited …

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 “” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents