Navigating Social Security Survivor Benefits
Supportive Guidance for a Difficult Time
Losing a spouse is a profound personal challenge. Amid this difficult transition, you also face complex financial choices. Social Security survivor benefits are a critical resource designed to provide lasting financial support. Understanding how to claim them is an important for married couples.
We recognize this may be your first time managing these details on your own. We’re here to provide clear guidance to help you identify your options and align survivor benefits with your overall financial plan and goals.
Personalized consultations are available for investors with $1,000,000 or more in investable assets.
What Are Social Security Survivor Benefits?
Survivor benefits are monthly payments made to the widow, widower or dependents of a deceased worker who was eligible for Social Security. The benefit amount is based on the earnings of the person who passed away. For many, this becomes a foundational source of income for the rest of their lives.
A surviving spouse can receive up to 100% of the deceased spouse's benefit amount. The actual payment depends on your age when you claim and the amount your spouse was receiving or was eligible to receive
How Do Survivor Benefits Work? And How Much Can You Receive?
The rules for survivor benefits are distinct from standard retirement or spousal benefits. The following are key considerations for creating a strong strategy for your benefits:
1
Your claiming age
You can claim a survivor benefit as early as age 60 (or 50 if you are disabled). However, claiming before your Full Retirement Age (FRA) will result in a reduced monthly payment. Waiting until your FRA ensures you receive the maximum possible survivor benefit. See What Is the Best Age to Take Social Security? for more.
2
The Survivor Benefit Amount
The amount you receive is a percentage of your late spouse or parent’s benefit. If your spouse delayed their own claim to age 70, you would be entitled to that higher amount, locking in a larger payment for your lifetime.
3
Your Own Benefits
A key advantage of survivor benefits is that you can claim them independently of your own Social Security retirement benefit. You could choose to receive a survivor benefit first, while allowing your own retirement benefit to continue growing until age 70. See Understanding Social Security: Strategic Insights for Millionaires for more.
A careful analysis is required to determine the best path forward for you and your retirement goals. Making the right decision can add significant value to your long-term financial peace of mind.
Support for Your Financial Future
If your spouse managed most of the financial decisions, stepping into this role can feel confusing—but you don’t have to navigate these complex choices on your own. Our team of dedicated professionals specialize in providing the clarity you need to move forward with confidence.
We’re here to help you:
Understand Your Options
We’ll walk you through the specifics of your survivor benefit claim with a clear and straightforward explanation.
Keep Your Portfolio On Track
We can analyze how your new Social Security income stream fits with your existing investments to create a cohesive financial plan aligned with your goals.
Craft a Tailored Strategy
We model different claiming scenarios to identify the one that best supports your personal financial goals and increases your retirement income.
