Social Security Strategies If a Spouse Dies
Claiming survivor benefits after losing a spouse can ease the financial loss.
Losing a spouse is traumatic enough without worrying about whether you'll be able to pay the bills. That's why it's important to understand how to get the most from Social Security survivor benefits.
As a widow or widower, you're eligible for a survivor benefit based on your spouse's earnings. You can claim this benefit as early as age 60, or 50 if you're totally disabled.
The amount of your benefit will be based on your spouse's benefit when he or she died. If your spouse died before claiming Social Security, the benefit will be based on 100% of the amount your spouse would have received at full retirement age. While times are changing, most widows receive a higher payment by switching to their late husbands' benefit. Remarriage won't affect your benefits as long as you're 60 or older when you remarry.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
When you claim spousal benefits can have a significant impact on the amount you'll receive. To receive 100% of your late spouse's benefit, you must wait until you reach full retirement age to claim it. Otherwise, your benefit will be reduced by a certain amount for each month you file your claim before full retirement age.
Even if your own benefits are larger, you may be able to use survivor benefits to improve your long-term financial security. If you expect to live for a long time, based on your health and family history, claiming survivor benefits will allow your own benefits to earn delayed retirement credits during the years between your full retirement age and age 70. Once you reach age 70, you can switch to your own higher benefits.
-
Should You Renew Your CD?With rate cuts impacting earnings, we examine if now is a wise time to renew CDs.
-
7 Ways to Plan Now to Save on Medicare IRMAA Surcharges LaterUnderstand the critical two-year lookback period and why aggressive planning before you enroll in Medicare is the most effective way to minimize IRMAA.
-
Law Reversal Looming? Trump Eyes 2026 Gambling Winnings Tax ChangeTax Deductions It's no secret that the IRS is coming after your gambling winnings in 2026. But how long will that last?
-
My Four Pieces of Advice for Women Anxious About Handling MoneyTalking about money can help you take control of your finances.
-
What You Learn Becoming Your Mother's Financial CaregiverWriter and certified financial planner Beth Pinsker talks to Kiplinger about caring for her mother and her new book.
-
How Women Can Turn a Gray Divorce Into a Financial WinGetting divorced later in life can be a big financial blow, especially for women. But, as this financial adviser points out, it can also serve as a positive turning point for growth and independence.
-
Should You Rent in Retirement?Making Your Money Last Renting isn't right for all retirees, but it does offer flexibility, and it frees up cash.
-
How to Achieve Your 2022 New Year's ResolutionsBrandon Copeland You've already made your New Year's resolutions. Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland explains how you can stick with them and accomplish them.
-
Santa's End-of-the-Year Finance TipsFeature Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland shares a few ways you can improve your finances before 2022 gets here.
-
How Women Can Boost Their Retirement SavingsWomen & Money The retirement savings deck is stacked against women in a few ways, but there are ways to help improve your odds of a long and successful retirement.
-
PODCAST: Love and Money with Mari AdamGetting Married Financial planner Mari Adam helps couples work together to have a good relationship with each other – and their finances. Also, some twists for 2020 tax filing and gadgets that can help when the power goes out.
