Til Death Do Us Part: Then What? (divorced, marriage, retirees)
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I do not believe you collect your full departed spouses SS as an elective instead of yours. I may be wrong (someone please correct me), but I thought it was you get either your own SS or half of your departed spouse's, not both. Or is that just in the case of divorce?
You're confusing spousal (retirement) benefits with survivor benefits. If your spouse or ex-spouse dies, you will be entitled to survivor benefits equal to 100% of his benefit. (But, you cannot collect both retirement and survivor benefits at the same time.)
If your spouse or ex-spouse dies, you will be entitled to survivor benefits equal to 100% of his benefit. (But, you cannot collect both retirement and survivor benefits at the same time.)
Thanks for the clarification.
In place of your own benefits, not on top of, right?
In the case of an ex, does the survivor have to have been married a certain number of years to collect 100% of his?
I thought from the thread title, it would be a philosophical question of what happens to one's relationship after death. I always thought it was strange that many people believe in "Heaven" yet have the "till death do us part" clause in their vows. I wondered what they thought would happen when both of them got to Heaven and why the marriage would be severed at that point . . .
I thought from the thread title, it would be a philosophical question of what happens to one's relationship after death. I always thought it was strange that many people believe in "Heaven" yet have the "till death do us part" clause in their vows. I wondered what they thought would happen when both of them got to Heaven and why the marriage would be severed at that point . . .
Well, that's a question probably better answered in the religious forum, but basically, the bible itself says a woman is only a wife until her husbands death.
So that's the "til death do us part" thing.
It just means a woman (or man) is free to remarry and be with someone else after their spouse dies without breaking their marriage vows.
Personally, I fully intend to be with my husband into eternity, so we didn't say the "til death do us part" line
In place of your own benefits, not on top of, right?
In the case of an ex, does the survivor have to have been married a certain number of years to collect 100% of his?
As I understand it, if I go first my SS will cease however, as mine if higher than my wife's, hers would be supplemented from mine until her total equaled what I currently receive plus any COLAs between now and the time I assume room temperature.
As for the ex, it requires 10 years of marriage for them to receive benefits from the former spouse's SS. The maximum would be 50% of what the former spouse was receiving or would receive if still alive. Since I began drawing mine at age 62, the ex's half would be based upon what I receive; not upon what I would have received if I'd waited more years before drawing from my account.
I think the Social Security rules were established upon the proverbial basis of what might be written by a million chimpanzees pounding on typewriters.
I thought from the thread title, it would be a philosophical question of what happens to one's relationship after death. I always thought it was strange that many people believe in "Heaven" yet have the "till death do us part" clause in their vows. I wondered what they thought would happen when both of them got to Heaven and why the marriage would be severed at that point . . .
Nope as the OP I can assure you my inquiry was financial and based on how solid our financial plans would be if one of us passed away. Lots of discussion about retirement finances but how much of that discussion factors in one of the spouses passing? If what was a solid plan collapses what will that do to our ability to provide for our seniors and are the current safety nets sustainable?
If I go first, my kids will get my IRA's, 403(b)'s, etc. DH would continue to receive his substantial pension and SS. However, as he is disabled and I am his caregiver, he would need to go into assisted living as he can't take care of himself.
If he goes first (which seems more likely, as he is 21 years older than I am, but you never know), his pension will stop. Years before he and I met, when he was getting divorced from his first wife, he signed an agreement to lower his monthly pension payments but upon his death, she will get part of his pension if she's still living. That's irrevocable, as far as I can tell (and I looked at the papers carefully). Now, if she goes before him, that's another story entirely ...
But if he dies before me, and she's still alive, I'll be living on my SS plus start taking withdrawals from my investments. I figure my monthly income will be cut in half (without his pension), but I've looked at the numbers and I think I'll be ok -- with careful budgeting.
I also have two policies of long-term care insurance should I need that.
If I go first, my kids will get my IRA's, 403(b)'s, etc. DH would continue to receive his substantial pension and SS. However, as he is disabled and I am his caregiver, he would need to go into assisted living as he can't take care of himself.
If he goes first (which seems more likely, as he is 21 years older than I am, but you never know), his pension will stop. Years before he and I met, when he was getting divorced from his first wife, he signed an agreement to lower his monthly pension payments but upon his death, she will get part of his pension if she's still living. That's irrevocable, as far as I can tell (and I looked at the papers carefully). Now, if she goes before him, that's another story entirely ...
But if he dies before me, and she's still alive, I'll be living on my SS plus start taking withdrawals from my investments. I figure my monthly income will be cut in half (without his pension), but I've looked at the numbers and I think I'll be ok -- with careful budgeting.
I also have two policies of long-term care insurance should I need that.
This is the type of scenario I was wondering about. I know with our pension and many others if the person owning the pension dies prior to retiring their is no life time benefit and the disbursement of contributed money varies from pension plan to pension plan. I know people terminally ill who retired so their spouses would have their pension. If your spouse who would own the pension is still working and passes suddenly prior to retiring the consequences can be devestating on the surviving spouse.
A spouse and/or [ex spouse married at least ten years] can collect the full amount of the deceased spouses benefit if it is more than their own benefit, they can't get both theirs and spouses. This is not retirement benefit but is survivor benefit.
There are age limits on when you can start to collect that survivor benefit and it will be reduced if taken earlier then FRA.
I do not believe you collect your full departed spouses SS as an elective instead of yours. I may be wrong (someone please correct me), but I thought it was you get either your own SS or half of your departed spouse's, not both. Or is that just in the case of divorce?
you are confusing retirement benefits with survivor benefits, whole different set of rules.
you can collect UP TO 50% of your spouses retirement benefit based on age they started collecting and age you file.
assuming that that is higher than your own benefit.
However you can collect Up TO 100% of deceased spouses benefit in place of your own if your's is less. depending on your age when you file, also you can collect any extended work credits your spouse may have earned by working past FRA in the SURVIVOR benefit, but the up to 50% spousal retirement benefit is based on no higher than FRA benefit even if they did work past FRA.
Same applies to Ex spouses if the marriage lasted at least ten years.
Clear as much right?
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