Home Life Insurance 3 Attention-grabbing Social Safety Questions Advisors Requested This 12 months

3 Attention-grabbing Social Safety Questions Advisors Requested This 12 months

3 Attention-grabbing Social Safety Questions Advisors Requested This 12 months


What You Have to Know

  • Welcome to Connecting the Dots, the column the place Marcia Mantell discusses real-life selections round Social Safety claiming and retirement.
  • Have your consumer contact the SSA in the event that they suppose they could be entitled to extra advantages, maybe on an ex-spouse’s report.
  • No, you’ll be able to’t declare your full profit earlier than the month you attain full retirement age.

Generally monetary advisors run into extremely uncommon Social Safety conditions with their purchasers. The questions purchasers ask are off the crushed path and might depart advisors shaking their heads. Listed below are three of probably the most fascinating questions I obtained in 2023.

An Ex-Partner Would Prefer to Declare Her Retroactive Spousal High-Up

An advisor landed a brand new consumer who was already amassing Social Safety advantages. The brand new consumer had been divorced for a few years.

Lately, the consumer heard she may qualify for a bigger profit by claiming on her ex-husband. She met the divorce guidelines, so the advisor took a take a look at her scenario then known as me with this query: Can an ex-spouse return to Social Safety to say an ex-spousal top-up?

In principle, positive. In case you are due a profit, Social Safety pays missed advantages retroactively, again six months.

Sadly, on this case, the consumer was 82 years previous and claimed 20 years in the past! She didn’t know concerning the ex-spouse top-up and nobody advised her at the moment.

Motion steps: The consumer ought to make an appointment with the Social Safety Administration to debate her scenario.

  • The SSA ought to have a “lead for advantages” on file from again when every ex claimed advantages. If the lead was by no means closed, she may very well be due 20 years of again funds.
  • At a minimal, she would get a six-month retroactive cost plus the top-up going ahead.
  • If the ex-husband dies first, she will be able to declare surviving ex-spousal advantages and certain see a big enhance in month-to-month advantages.

Ex-Spouse of a Police Officer Is Trying to Declare Ex-Spousal Advantages

In one other divorce case, with a a lot youthful consumer, the ex-wife requested her advisor how and when to say her ex-spousal Social Safety advantages. At 60, she desires a full plan for her retirement revenue.

She was an at-home mother, married to a police officer for over 15 years, then divorced. Since then, she’s been working and receiving alimony.

The advisor known as asking concerning the course of and timing for her to use for Social Safety together with her ex-spousal top-up.



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