At this time’s Social Safety column addresses questions on how quickly advantages could also be obtainable based mostly on a brand new partner’s file, when divorced spousal advantages could also be obtainable and taking widow’s advantages whereas delaying retirement advantages till 70. Larry Kotlikoff is a Professor of Economics at Boston College and the founder and president of Financial Safety Planning, Inc.

See extra Ask Larry solutions right here.

Have Social Safety questions of your individual you’d like answered? Ask Larry about Social Safety right here.

How Quickly Can I Take Social Safety Spousal Advantages On My New Partner’s Report?

Hello Larry, I’m at present amassing Social Safety advantages on my ex’s file. I’m going to remarry this 12 months. My new husband is amassing his Social Safety retirement profit. I understand I will not be capable to accumulate on my ex’s file anymore. How quickly after I get married can I anticipate to start out amassing on my new husband’s file? Thanks, Janet

Hello Janet, If you happen to’re at present drawing divorced spousal advantages, then you may doubtlessly qualify for spousal advantages in your new husband’s account as early as the primary full month that you just’re married.

By the best way, your present advantages will solely finish for those who’re amassing divorced spousal advantages. If you happen to’re getting divorced widow’s advantages on his file, then you possibly can proceed receiving survivor’s advantages even after you remarry. A remarriage that happens after an individual has turns 60 doesn’t stop them from qualifying for advantages on the file of a former deceased partner. Greatest, Larry

Can I Acquire Ex-Spousal Advantages Once I Flip 62?

Hello Larry, I used to be born in 1962 and my ex-spouse was born in 1970. We have been married for 12 years. I’ve not remarried. Can I accumulate divorced spousal advantages once I hit early retirement at 62 or if I obtain SSDI, or do I’ve to attend till he reaches retirement age (62 or FRA)? If I can’t accumulate advantages on his file till he reaches retirement age, can I accumulate my very own after which accumulate his later? Susan

Hello Susan, You could not qualify for divorced spousal advantages till your ex both reaches 62 or begins drawing Social Safety retirement or incapacity (SSDI) advantages.

You would declare your individual Social Safety retirement advantages as quickly as you qualify and later apply for divorced spousal advantages, however you will solely be eligible for divorced spousal advantages if 50% of your ex’s main insurance coverage quantity (PIA) is greater than your individual PIA. An individual’s PIA is the same as their Social Safety retirement profit charge if they begin drawing their advantages at full retirement age (FRA).

Moreover, for those who declare decreased Social Safety retirement advantages previous to your full retirement age (FRA) and for those who later qualify for extra divorced spousal advantages, you will be caught with the early submitting discount.

Your greatest submitting technique is determined by quite a lot of various factors, so it’s possible you’ll wish to think about using my firm’s software program — Maximize My Social Safety or MaxiFi Planner — to make sure your family receives the very best lifetime advantages. Social Safety calculators supplied by different corporations or non-profits could present correct options in the event that they have been constructed with excessive care. Our software program also can verify your right profit quantity, making certain you are not being paid too little or an excessive amount of, which may result in potential clawbacks resulting from Social Safety’s overpayment to you. Greatest, Larry

Can I Acquire On My Late Husband’s Social Safety Now And Wait Till 70 To Acquire My Personal Advantages?

Hello Larry, I’m 65 and work half time. I don’t accumulate Social Safety. My husband age 61 just lately handed and he was nonetheless working full time. We have been married for 15 years. Can I accumulate on his file and wait till age 70 to gather my retirement profit? Thanks, Sarah

Hello Sarah, I am sorry on your loss. Sure, you may apply for widow’s advantages now and wait till 70 to say your individual advantages, however till you attain your full retirement age (FRA) some or all your advantages may should be withheld relying on how a lot you might be incomes.

Your greatest submitting technique might be both submitting for decreased widow’s advantages early after which switching to your individual file at 70, or submitting for decreased retirement advantages by yourself file early after which submitting for unreduced widow’s advantages at full retirement age (FRA). Usually, you’ll wish to begin out drawing the decrease profit first after which change to the upper file when it reaches its highest potential charge.

No matter you do, although, do not delay contacting Social Safety to make an appointment to use for advantages. Failure to use for advantages well timed may end in a lack of advantages. Greatest, Larry