Being aware of the free spousal benefits from Social Security

July 18, 2016 6:49 PM

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Being aware of the free spousal benefits from Social Security

Some years ago I was talking to a colleague at the University of Delaware who was planning to retire. I was surprised to learn that he did not know about Social Security spousal benefits. It was only later when I started my business, that I realized that information about spousal benefits is not available on your Social Security statement. Yet spousal benefits can be an important part of retirement income. If someone waits until full retirement age to claim spousal benefits, they can receive half the benefit of the primary beneficiary.

There is even less known about 'free spousal" benefits. These are a special kind of spousal benefits that can increase the retirement benefits of married couples or divorcees where both the husband and wife have substantial Social Security earnings. By taking advantage of free spousal benefits a dua...

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