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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 10122
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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My SS is $1700 before Medicare my wife's is about $1200

Customer Question

My SS is $1700 before Medicare my wife's is about $1200 before Medicare. When I die what would my wife's SS approximately be?
Submitted: 8 days ago.
Category: Social Security
Expert:  Lane replied 8 days ago.

Hi. My name’s Lane. … I can help here.

I have a Law degree with concentration in Tax , Estate & Corporate Law, … an MBA, with specialization in finance … a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

Please bear with me a moment while I prepare your response

Expert:  Lane replied 8 days ago.

The answer to that question depends on the age your wife is when she files for what's called the survivors benefit (called the Widow's/Widower's benefit anecdotally).

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it's important to know that benefits can't be "stacked," when someone is eligible for more than one benefit, as you wife would be at your passing (she's eligible for her own, of course, and then for a survivor's benefit). What Social Security does it take any existing benefit UP TO the higher benefit IF that newly eligible benefit IS higher than the one already being received.

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The benefit can be filed for as early as age 60 ... In that case, the benefit is 71.5% of your benefit.

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.715 x 1700 = 1215.5 ... so at her age 60 there would be only a slight increase.

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However at Full Retirement Age (age 66 for those born between 1943 and 1954) the benefit is 100% of your benefit.

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SO if she is already past full retirement age she would be taken up to that $1700.

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And if filing anywhere BETWEEN age 60 and age 66, the benefit goes up an equal amount each year straight-line, again, to 100% at her age 66

Expert:  Lane replied 8 days ago.

You can read more about this from Social Security here: https://www.ssa.gov/planners/survivors/ifyou5.html

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Please Let me know if you have ANY questions, before rating me.

But if this HAS helped, and you don’t have more questions on this, … I would appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit")

Otherwise I won’t be compensated for the work here.

Thank you!

Lane

Expert:  Lane replied 7 days ago.

Hi,

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I’m just checking back in to see how things are going.

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Did my answer help?

If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit")

...

But if you need more on this, please let me know.

Lane