What Happens to Your Social Security Benefit When Your Spouse Dies?
Social Security provides guaranteed income to workers and spouses throughout retirement. Consequently, benefits tend to become increasingly important over time as other sources of savings, like 401(k) plans and IRAs, are gradually depleted.Survivors benefits can play a particularly crucial role in helping a senior on Social Security make ends meet after their spouse passes away. But Nationwide Retirement Institute reports that 41% of surveyed adults are unaware the surviving spouse can inherit their deceased partner's payout in certain situations.Here's what happens to your Social Security benefit when your spouse dies.Continue reading
Social Security provides guaranteed income to workers and spouses throughout retirement. Consequently, benefits tend to become increasingly important over time as other sources of savings, like 401(k) plans and IRAs, are gradually depleted.
Survivors benefits can play a particularly crucial role in helping a senior on Social Security make ends meet after their spouse passes away. But Nationwide Retirement Institute reports that 41% of surveyed adults are unaware the surviving spouse can inherit their deceased partner's payout in certain situations.
Here's what happens to your Social Security benefit when your spouse dies.
