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PLATNUM
Star Player
Joined: 17 Dec 2002
Posts: 7273
Location: L.A.
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 Posted: Tue Mar 21, 2023 11:46 pm Post subject: Anyone here know about social security/taxes? Need help |
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So, as per the usual... I'm reaching out to my LG brethren for some guidance. Google has a bunch of conflicting info and I just want to see if anyone here has any real world experience either personally or professionally that can help.
As some of you may recall.... my Dad passed away last October.
He was the reason I became a Laker fan back in the Showtime era. 
My Mom retired about 5 years ago and my Dad only barely stopped working around 67--- he passed just a few weeks after his 69th bday. The crappy thing is that both he and my Mom were dependent upon their social security checks every month to handle the house payment and day to day stuff.
He was getting a little over 2k per month... but after he passed, my sister and Mom went to the SS office and all they are "transferring" over to my Mom in her husband's name is like $75. Is that accurate? Luckily, my Mom and her kids ( save me ) are responsible and have money set aside for mortgage and the like.... but is this the standard?
Does that $2k just disappear into thin air? Any help or advice is (as always) appreciated.
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"Dread it, run from it... destiny arrives all the same." |
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LongBeachPoly
Franchise Player
Joined: 14 Jul 2012
Posts: 16217
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| Posted: Wed Mar 22, 2023 5:53 am Post subject: |
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Have no idea, but I found this reddit thread for you (from 2019). See if it helps:
https://www.reddit.com/r/personalfinance/comments/aaokag/how_to_handle_social_security_after_a_death/
Also, here's one comment (from 2019):
| Quote: | Spouse A is receiving SS benefits and dies.
Their spouse, spouse B, is entitled to "survivor's benefits". The last I knew, this was roughly half the amount of the benefits spouse A was getting.
Spouse B can claim their own SS benefits, or the survivor benefits, whichever is higher; spouse B cannot claim both.
So the surviving spouse just takes the higher of the two.
https://www.ssa.gov/planners/survivors/ifyou.html#h2 |
Based on this comment and on your situation, here's what I'm guessing:
| Quote: | Your dad got $2k.
Your mom gets over $1k, let's say $1.5k?
Survivor benefits is "roughly half" of $2k = $1k? |
So your mom chooses whichever is higher. She can't claim both.
And again, I'm just guessing here. That reddit comment might be wrong (or outdated).
---------------------------------
Doing more googling:
I found this from an AARP article dated April 7, 2022:
And also in this article, if your dad retired at "full retirement age", your mom would be entitled to 100% of his benefits, which is $2k.
And your dad probably retired at full retirement age:
| Quote: | The full retirement age is:
66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it reaches 67. For anyone born 1960 or later, full retirement benefits are payable at age 67.
https://www.ssa.gov/pubs/EN-05-10035.pdf |
So, putting all this together, I'll revise my guess to this:
| Quote: | your dad retired at full retirement age (67)
your dad gets: $2k
your mom gets: $1,925?
your mom gets to choose the higher of the 2. She chooses your dad's payment, which is $75 more than hers? |
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jodeke
Retired Number
Joined: 17 Nov 2007
Posts: 68050
Location: In a world where admitting to not knowing something is considered a great way to learn.
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| Posted: Wed Mar 22, 2023 8:41 am Post subject: |
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When my mother passed I was 13. My sisters and I got a ss check until we reached the age of 18. If you're ready to read and attempt to decipher google ss survivors benefits. IMO it would be wise to contact Social Security (800) 772-1213. Ask an agent.
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PLATNUM
Star Player
Joined: 17 Dec 2002
Posts: 7273
Location: L.A.
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| Posted: Wed Mar 22, 2023 9:05 am Post subject: |
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LBP, thank you for the extensive info. Super helpful.
Jo, as always, thanks for the insight and info.
Will check everything out soon.
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"Dread it, run from it... destiny arrives all the same." |
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jodeke
Retired Number
Joined: 17 Nov 2007
Posts: 68050
Location: In a world where admitting to not knowing something is considered a great way to learn.
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| Posted: Fri Mar 31, 2023 11:06 am Post subject: |
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| PLATNUM wrote: | LBP, thank you for the extensive info. Super helpful.
Jo, as always, thanks for the insight and info.
Will check everything out soon. |
Did you get the information and solutions?
_________________
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves. |
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