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An unexpected death brings Social Security questions
Regular readers know I often urge married couples to select a Social Security claiming strategy that will result in the largest possible survivor benefit. That is usually accomplished by having the higher-earning spouse delay collecting retirement benefits as long as possible — up to age 70 — to create the biggest retirement benefit. That maximum retirement benefit translates into a survivor benefit after the death of one spouse. Assuming the surviving spouse is at least full retirement age — currently 66 — or older, he or she would be entitled to a survivor benefit worth 100% of the deceased worker’s benefit amount including any delayed retirement credits, which can increase a retirement benefit by up to 32…Read More