Ask Larry

How Much Money Can I Receive In Benefits If I Adopt My Granddaughter?

How much money can I receive in benefits if I adopt my granddaughter she is 3years old now

Hi,

I can't give you a definitive answer without much more information about your situation. Adopting a child wouldn't have any effect on your own benefit rate, but an eligible child can be paid an auxiliary benefit of up to 50% of the primary insurance amount (PIA) of a living parent who's drawing either Social Security retirement or disability (SSDI) benefits.

However, there is a family maximum benefit (FMB) that can be paid on any person's Social Security record, which could lower the amount of the child's benefit if other children or a spouse are already drawing benefits on the same account. Furthermore, there is a special formula for calculating the FMB on the records of people who receive SSDI benefits, which can in some cases limit auxiliary benefits to zero. Social Security would have the records needed to answer your question, so I would suggest that you contact them.

Best, Jerry

Category: 
Posted: 
Nov 25 2019 - 1:02pm
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.