Ask Larry: Questions and Answers

Displaying 3351 - 3360 of 10063 questions.

How Do I Complete Form SSA-795?

I am receiving survivor benefit based on my wife's record now and want to switch to receive the benefit based on my own record, which is higher, when I turn 70 in April 2021. I was told to fill out SSA 795 but not sure how. I have three questions.
1. What do I put on the first page of the form under the big blank space after I hereby certify that?
2. When should I file the form to start receiving the new benefit when I turn 70 in April 2021?
3. Where do I send the form and should it be submitted electronically or thru regular mail?
Thank you for your . . . Read More

Category: Filing For Benefits
Posted: Aug 10 2020 - 8:34am

Will I Get To Keep My Divorced Spousal Benefits If My Ex Is Incarcerated?

Hello:
I have been collecting the "Divorced Spouse Benefits" for a couple of years now.
The marriage lasted well over 10 years & the divorce was well over 2 years ago.
I understand that I am what is called "Independently Entitled".
Does it means that my ex' whereabouts do not matter?
I learned that he is going to be jailed for a long time.
Am I going to be able to keep the benefits while he is incarcerated?
Thank you

Hi,

Yes. If a person is incarcerated, only their Social Security benefits are suspended . . . Read More

Category: Miscellaneous
Posted: Aug 10 2020 - 8:27am

Would I Be Eligible To Receive Widow's Benefits At Age 50?

Hello,
I am currently 47 and on SSDI. I received survivor benefits For my daughter until 2014 (She turned 18) due to my husbands passing in 1996. Would I be eligible to receive widowers benefits under his record at age 50? Would it be better to wait?
Thank you!

Hi,

It sounds like you may be eligible for disabled widow's benefits (DWB) as early as age 50, but only if you became disabled no later than 7 years after the later of a) your husband's date of death, or b) your last month of entitlement to child in care survivor benefits. If you . . . Read More

Category: Disabled Widow(er) Benefits
Posted: Aug 9 2020 - 11:02am

Can An Ex-Wife Get Survivor Benefits If She Married Someone Else Before Her Ex-Spouse Dies?

If a. Man died and he on Social security and the woman is his Ex and she has got married before he died can she get his Social security

Hi,

The only way that a surviving divorced spouse can be currently married and still potentially qualify for survivor benefits from the Social Security record of a deceased ex-spouse is if their current marriage took place when they were age 60 or older (https://www.ssa.gov/OP_Home/handbook/handbook.04/handbook-0406.html).

Best, . . . Read More

Category: Divorced Widow(er) Benefits
Posted: Aug 9 2020 - 10:53am

Do I Have To Wait Until My Ex-Husband Turns 62 To Collect Divorced Spousal Benefits?

My ex and i were married more than 10 years. My ex is seven years younger than me. Do i have to wait until he is 62 and i am 69 to collect spousal benefits? I have not remarried and do qualify for benefits on my own from working.
Thanks!

Hi,

Probably, yes. The only way that you could potentially be paid divorced spousal benefits before your ex reaches age 62 is if he either starts drawing Social Security disability (SSDI) benefits or dies.

You could potentially file for your own benefits as early as age 62 and then receive divorced . . . Read More

Category: Divorced Spousal Benefits
Posted: Aug 9 2020 - 10:31am

Will My Survivor Benefits Be Reduced Due To The Windfall Tax?

I am collecting SS but it is lower because I receive a pension from working in the school system. I am now eligible for survivors SS from my ex husband. Will his SS be reduced because of windfall tax.

Hi,

Your widow's benefits wouldn't be reduced due to the Windfall Elimination Provision (WEP), which is not a tax by the way (https://www.ssa.gov/pubs/EN-05-10045.pdf), but it sounds like your survivor benefits would likely be subject to at least a partial offset due to the Government Pension Offset . . . Read More

Category: Survivor Benefits
Posted: Aug 9 2020 - 10:19am

How Much Will I Be Able To Draw As A Widow?

I am a widow. My husband birthdate is 8/3/55 and he passed away on 9/13/18. I will be 60 in December (2020). I am planning to retire at my full retirement age of 67. I understand I can draw my husbanded retirement at that time instead of mine. He made more than me over the years. Will I be able to draw the amount that he would have been FRA or be able to draw what he would have drawn at the age of 70. (he would have been 70 when I get to FRA).

Thanks in advance.

Hi,

I'm sorry for your loss.

Assuming that your husband didn't collect . . . Read More

Category: Widow's Benefits
Posted: Aug 9 2020 - 9:56am

Where Can I Get Help With Filing Amended Tax Returns?

I am trying to get SS credits for my husband through our farm Business. We have various business, real estate, rental income and farm income. I am trying to amend 2017, 2018 & 2019 because we do not show a profit, a SE form is not generated. I know I will have to pay SE taxes on those wages off Schedule F. I am not sure if I am doing the forms correctly 1040X and Long Form SE Farm optional method. He only has $6,000 in income that would qualify. WHere can I get help?

Thank you

Hi,

My only area of expertise is Social Security benefits. If . . . Read More

Category: Earnings Subject To Social Security Taxes
Posted: Aug 9 2020 - 9:43am

Will I Still Get The SS Credits For The Year 2020?

Hello Larry,
I will be 70 this December, 2020. I'm still working full-time. I will be filing for SS soon. Will I still get the SS credits for the 2020 year? Now on, my social security page, it says I'm eligible for $2,900 a month. Trying to get it up to $3,000 or more.
Thanks,

Shirley

Hi Shirley,

Yes, as long as you don't elect to start your benefits any earlier than the month you reach age 70, your Social Security retirement benefit rate will include 4 full years of delayed retirement credits (DRC). That means your benefit rate . . . Read More

Category: Delayed Retirement Credits
Posted: Aug 9 2020 - 8:31am

Is It Correct That If I Wait Past Age 66 To Start Drawing My Benefits My Wife And I Would Have To Be In Our 90s Before We'd Come Out Ahead?

Hi Larry,

I retired from a Job in Aerospace at age 62 and my wife and I have been getting by living on savings and my company pension (she will continue to receive the same amount after I am deceased). We will both turn 66 (FRA) before the end of the 2020. Her social security benefits would be minimal compared to 50% of my FRA benefits. Given that her spousal benefits do not increase if I opted for Delayed Retirement Credits, it seems that the 8% annual increase is not worth the wait. I have looked at various breakeven calculations and it seems that the breakeven point . . . Read More

Category: Filing Strategies
Posted: Aug 8 2020 - 5:37pm
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