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Survivors Benefits in Retirement
Social Security extends to your surviving spouse, and in some cases to your children, after you pass. In regards to the spouse, this event opens up a few different options for them. They still have the option of collecting their own Social Security and are free to choose between whichever would benefit them the most. They are also able to switch should one payment become larger over time. There are still many facets to this decision if, for example, the surviving spouse is still working and bring in an earned income. This complicates matters if it would push them above the taxable income threshold for those collecting Social Security. For this reason it may not always be the right choice to take the larger benefit right off the bat. For more information visit this article by Mary Beth Franklin with Investment News.