Social Security spousal benefitsRial MoultonJDCFPCPA/PFSAdvanstar Communications Inc
between age 66 and 67.You would get a divorced spousal benefit only if it's greater than the amount you've earned on your own work record when you apply. Social Security pays the higher of the two amounts — not both. Divorced spousal benefits end if you remarry.To apply, you must ...
However, the working spouse may want to delay filing to minimize taxable income and maximize Social Security benefits by receiving them later. In this case, the working spouse can "file and suspend" those benefits, allowing the other spouse to also receive them. Here's how it works: A wor...
The Bipartisan Budget Act of 2015 changed the rules on filing for spousal benefits underSocial Security, eliminating some popular claiming strategies that once allowed couples to increase their benefits. The new law didn't, however, do away with spousal benefits entirely. If you qualify...
Social Security spousal benefits are available to people whose spouses paid into the Social Security system, even if they never did so themselves. Spouses who apply at their full retirement age may be eligible for a benefit equal to 50% of the other spouse’s benefit.1 ...
The return on waiting to claim Social Security is 'huge' "That's when all of the creative filing went away for younger [beneficiaries]," Freitag said. While it can seem complicated, two things to remember about spousal benefits in general are: ...
Social Security benefits are based in part on your earnings record. Larger lifetime earnings result in larger benefits. Each spouse in a married couple can claim on either their own earnings record or their spouse’s record. A person who claims on their spouse's record can...
Posted in: delayed retirement credit, file and suspend, Social Security, Social Security spousal benefit, Spousal Benefit. Tagged: delayed retirement credit· Social Security· spousal benefit ← A Good Reason to File and Suspend: Back Benefits Book Review: The 7Twelve Portfolio→ ...
when one spouse has had little or no working history, such as a stay at home mom or dad, and where the other spouse has had a working career covered by Social Security, that has provided enough quarters of earnings to make him or her eligible for Social Security retirement benefits. ...
A receiving spouse may choose to eschew alimony payments in return for other benefits to be provided by the would-be payor, such as a more favorable custody agreement. The nature of the payment requirements also depends on the overall circumstances of the divorce. ...