I am single was born in 1951 and will turn my full retirement age 66 in January. I have not taken social security benefits. I am working and hope to work until I am 70 to maximize my social security benefit. My estimated benefit at 70 is now about $2400/ mo. My domestic partner was born in 1942 - at 74 he's been taking benefits since "a month or two" before his full retirement age. (We haven't yet looked to see exactly how early he started on Social Security.) His benefit is about $1000/mo.
Would this scenario work under 2015 revisions to law? We get married. We wait a year. After that year, say in 2018, when I am 67, I file only for spousal social security benefits, and keep working. I get 50% of his $1000/mo. slightly-early benefit until I am 70. At 70, I file for my full increased benefit and stop getting spousal benefit. At that point, he will be 78 and we will have been married 4 years. He then files for spousal benefit on my $2400/mo benefit and gets $1200/mo spousal benefit instead of $1000/mo. on his own work record.
If that works, are there any timing considerations to keep in mind? Also, if it works, what kind of professional could give us advice on
a) how that receipt of benefits would impact our state and federal income taxes and filing separately or together and
b) How I could shield my husband from having to take on responsibility for my credit card debt, about $10,000 and debt to my brother, about $20,000. In 4 years I expect to have the credit card debt paid off.

Thank you for any advice you can give. This is a great service.

Hi,

I'm not a lawyer, so I can't answer the questions notated as a) and b). Regarding the taxation of Social Security benefits, however, you may want to review this information from Social Security's website: https://www.ssa.gov/planners/taxes.html.

Regarding your other questions, based on the information you've provided you could become eligible for spousal benefits only on your new husband's record after 1 year of marriage. Specifically, you would first be eligible effective with the month in which your 1-year anniversary occurs. The spousal benefit rate would be equal to 50% of his full retirement age benefit amount. You could then switch to your own record at age 70, at which time your own benefit amount would be 32% higher than at age 66.

Your husband could also qualify for an excess spousal benefit on your record when you file at age 70. He wouldn't switch to your record, though. Instead, he would continue to receive his own benefit, plus the difference between 50% of your full retirement age benefit amount and his own full retirement age benefit amount. So, if he took any reduction for starting his benefit prior to full retirement age, that reduction would carry over to his combined retirement plus excess spousal benefit rate.

You may wish to run the maximization software available on this website for a full analysis of all of your filing options.

Best, Jerry