[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/social-security-is-valuable-so-dont-make-mistakes-new-york-ny-greenwich-ct\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/social-security-is-valuable-so-dont-make-mistakes-new-york-ny-greenwich-ct\/","headline":"Social Security Is Valuable, So Don\u2019t Make Mistakes","name":"Social Security Is Valuable, So Don\u2019t Make Mistakes","description":"Mistakes are easy to make when it comes to your benefits so approach the issue carefully. A person in the U.S. works to earn Social Security benefits. It would be a good idea to approach decisions on your benefits carefully, according to the\u00a0Independent Record in “Don\u2019t Make These 4 Big Social Security Mistakes“. First, check […]","datePublished":"2018-10-01","dateModified":"2023-09-24","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b022ad3b46ecb.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b022ad3b46ecb.jpg","height":1067,"width":1600},"url":"https:\/\/www.amorusolaw.com\/blog\/social-security-is-valuable-so-dont-make-mistakes-new-york-ny-greenwich-ct\/","about":["Divorce","Elder Law","Ex-Spouse","Retirement","Social Security","Survivor Benefit"],"wordCount":635,"keywords":["Divorce","Elder Law","Ex-Spouse","Retirement","Social Security","Survivor Benefits"],"articleBody":"Mistakes are easy to make when it comes to your benefits so approach the issue carefully.A person in the U.S. works to earn Social Security benefits. It would be a good idea to approach decisions on your benefits carefully, according to the\u00a0Independent Record in “Don\u2019t Make These 4 Big Social Security Mistakes“.First, check the \u201cuse by\u201d date on your strategy.\u00a0There have been many changes to tax laws and Social Security regulations. Having access to the entire world on the web is great, but if the advice you are following came from too far back\u2014 such as the file-and-suspend strategy\u2014then you\u2019re barking up a very old tree. This was a very popular strategy that involved a worker who would claim benefits and then suspend them. The spouse or other family members were eligible to claim benefits on the worker\u2019s earnings record, while those benefits grow until the worker lifted the suspension and started receiving payments. However, a law changed that took this tactic away, if you didn\u2019t act before May 2016.Failing to claim even after waiting to claim may not do you any good.\u00a0Here\u2019s the fundamental trade off with Social Security: file early and monthly benefits are smaller. Wait to file and the benefits will be bigger. However, that does not go on forever.\u00a0After a certain point, you\u2019ll get the same benefit.What gets a little confusing is that the date to file is different, based on the type of benefits you are claiming. For your own retirement benefits based on your own work history, delayed retirement credits are available until age 70. There\u2019s no increase in monthly payments past that date.For spousal benefits, however, the date is different. No delayed retirement credits apply to spousal benefits, so if you wait past your full retirement age (FRA), usually between 66-67, then you may be leaving money on the table. You might not be permitted to claim spousal benefits at full retirement age, if your spouse hasn\u2019t filed for retirement benefits. However, if you are allowed to claim spousal benefits at FRA, then there\u2019s no need to wait any longer.Are your benefits all working together?\u00a0This is where it gets complicated. When you have benefits both under your own work history and under a spouse\u2019s work history, there are more moving parts. With spousal benefits, you can\u2019t claim them without also claiming your own retirement benefits. You should, therefore, wait longer to file a claim, if doing so will help you get more benefits on your own work record due to delayed retirement credits.However, if you are claiming survivor benefits because your spouse has died, there\u2019s even more moving parts. You can claim retirement benefits or survivor benefits separately and don\u2019t have to claim them both at the same time. Sometimes it makes the most sense to claim survivor benefits first, while you let your retirement benefit grow. In other cases, it makes more sense to claim your own benefits first and let your survivor benefits grow. You\u2019ll want to be sure to coordinate them wisely to max out what you receive from Social Security.Did you get divorced before the 10-year rule kicked in?\u00a0If you\u2019re contemplating a divorce, include Social Security in your calculations. If you were married for at least 10 years before divorcing, you can claim Social Security benefits on your ex-spouse\u2019s work record. However, if you got divorced after nine years and 11 months, you can\u2019t. If you remarry, you can\u2019t make a claim on your ex\u2019s work records.Reference:\u00a0Independent Record (Sep. 15, 2018) “Don\u2019t Make These 4 Big Social Security Mistakes”For more information on elder law and estate planning, please visit my estate planning website."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Social Security Is Valuable, So Don\u2019t Make Mistakes","item":"https:\/\/www.amorusolaw.com\/blog\/social-security-is-valuable-so-dont-make-mistakes-new-york-ny-greenwich-ct\/#breadcrumbitem"}]}]