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it always amazes me how simple many think the ss system is and they try to navagate it alone or with the help of those minimum wage people that answer questions at the ss office.
if you are married social security decisions can be the most complex and influential decisions we can make in our lives.
it really is worthy of paying an expert for advice. many websites like social security soulutions are appearing and have some of the sharpest people in the industry .
I'm concerned that over the past few years I've gotten various sometimes conflicting information about SS amount for the survivor if the ex dies. I don't trust that all the reps are on the same page (so many are so young, I wonder if they're totally versed). I'm wondering if a financial planner or CPA would know the rules more thoroughly and would it pay to pay to consult one.
Consider the salary of a clerk in the SS office and compare that to the fee/salary of a quality CPA and you have your answer. NEG part of the problem with SS as you know from other post and forums there are thousands of possible answers. It is probably very difficult to get the right answer if you aren't sure what questions to ask and how to ask them. MathJak did a thread awhile back about software designed to help people through the SS maze. Most of those programs have prompts to help steer you to the right questions for the software to answer. That might be a possible in between step. You know what you want to find out but asking it the right way can be difficult a lot of times when you don't know all of the parameters the person behind the counter is trying to sort through. I recently took a retirement course and this along with other SS topics were covered. However from the specific questions asked it was obvious that each question needed a thought out answer. Seminars I have attended made it easy for most of us but for many they needed more specific advice.
Consider the salary of a clerk in the SS office and compare that to the fee/salary of a quality CPA and you have your answer. NEG part of the problem with SS as you know from other post and forums there are thousands of possible answers. It is probably very difficult to get the right answer if you aren't sure what questions to ask and how to ask them. MathJak did a thread awhile back about software designed to help people through the SS maze. Most of those programs have prompts to help steer you to the right questions for the software to answer. That might be a possible in between step. You know what you want to find out but asking it the right way can be difficult a lot of times when you don't know all of the parameters the person behind the counter is trying to sort through. I recently took a retirement course and this along with other SS topics were covered. However from the specific questions asked it was obvious that each question needed a thought out answer. Seminars I have attended made it easy for most of us but for many they needed more specific advice.
I have a "quality" CPA. He asks me questions relating to social security and other legal stuff. I don't think he is unusual. I think I'll test him with a few relatively basic SS questions when I submit my tax info in the next month. I also don't believe most folks need to know the info provided in my prior link. In fact, for the average Joe, all of the additional info kind of muddies the water.
I have a "quality" CPA. He asks me questions relating to social security and other legal stuff. I don't think he is unusual. I think I'll test him with a few relatively basic SS questions when I submit my tax info in the next month.
This is exactly our experience. Our CPA is extremely savvy re tax strategies but clueless when it comes to SS, pensions, and Medicare. He's given us poor advice (ie based upon wrong assumptions) more than once re those and we've had to educate him.
I have a "quality" CPA. He asks me questions relating to social security and other legal stuff. I don't think he is unusual. I think I'll test him with a few relatively basic SS questions when I submit my tax info in the next month. I also don't believe most folks need to know the info provided in my prior link. In fact, for the average Joe, all of the additional info kind of muddies the water.
I'll be interested in hearing how your CPA does. Being in the area you are he should not only be well versed in a number of things but also well experienced in dealing with.
My divorce attorney 25 years ago never mentioned that it would benefit me to
wait until the marriage was 10 years long to file final divorce papers...
My husband left after 9 years, and the divorce
was final right at the 10 year mark..(year separation requirement)
Thankfully it was just past the 10 year
date !!!
Divorce attorneys aren't always the best when it comes to stuff like that and accounting issues (if ever a next time, get an attorney with a good accounting background). After my divorce several years ago, I needed a financial advisor to help me sort through transferring stock, etc, into my own account, and he discovered that my ex had double taxed me (everything was written out in percentages, not exact $ amounts). Fortunately, my ex finally agreed to pay me the difference without having to go back to court. Had I not consulted with a financial advisor, I would have never known I was underpaid.
I consider myself fortunate in that I have that same financial advisor whom I see once a year to go over my IRA and company 401K, and any changes in my circumstances. He has also advised me on SS issues ... 1/2 of my ex's SS when he retires (or if I remarry, I can still collect on ex's if his is the higher amount), and SS will automatically make the adjustments. As far as 100% of SS, I believe only if he dies (but I'm not quite sure, wasn't paying too much attention last time we discussed SS). I will definitely ask when I see him next time.
Last edited by smpliving; 03-09-2013 at 01:23 PM..
I m sure I read somewhere that there is a limit to how much money
will be paid out to exes. Correct me if I'm wrong, but I think they reduce
each ex down to meet the limit.
I the ss recipient were amoral enough to have 6 x spouses, ss would not
willy nilly pay each one the full amount/
I m sure I read somewhere that there is a limit to how much money
will be paid out to exes. Correct me if I'm wrong, but I think they reduce
each ex down to meet the limit.
I the ss recipient were amoral enough to have 6 x spouses, ss would not
willy nilly pay each one the full amount/
Everything I have read says what one ex gets does not in any way affect what the other ex's get.
There is no limit for ex spouses. You can have 10 ex wives and they all get the same deal.
Come to think of it why would one man want to disapoint so many women and have witnesses to boot. Lol.
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