The payment made to a beneficiary (usually the ex-spouse or alternate payee) from a retirement plan after the plan participant dies.
Question: How do I know if the military Survivor Benefit Plan applies to me? See details please.? My Father recently passed away and my mother has already passed away a few years ago.
I am an ony child.
I'm unsure if my father had any type of life insurance and I already checked his banking statements.
I need to figure this out before I lose out.
I am over 18 (in my 30's).
Can anyone familiar with the Military (SBP) Survivor Benefit Plan please help me?
Thank you in advance
Answer: SBP is something that he would have had to set up, if he didn't then you would not be eligible for it. As you are no longer a dependent of him you will not receive his pension, access to bases, etc... He might have had life insurance but that could have been through any company. He should have outlined everything in his will if he had one.
Question: What would social security survivor benefit be? My husband passed away in 1999. He was collecting some social security bit I am not certain how much.
He retired in 1992 at the age of 64.
He earned $800,000. in his last year of employment.
I know that I am eligible for 71% at age 60 in 2 years.
Can anyone help me calculate the amount?
Answer: You seem to know the basic rules - you would be eligible for 71.5% of your husband's benefit when you reach age 60. If you wait until your full retirement age (which will be at age 66), you would be eligible to collect 100% of your husband's benefit amount. Between age 60 and age 66, you would be eligible for somewhere between 71.5 and 99%. The longer you wait, the higher your benefit.
You should definitely contact the Social Security Administration for a more precise answer, especially since you don't remember what your husband's benefit amount was. They can undoubtedly look up his records and find out the exact number.
Question: Would it benefit the survivor if an epidemic broke out or hurt them? Lets say an epidemic breaks out in two days and in 7 months the population if reduced to 2/3 of what it was all around the globe. Would the survivors be better off or worse off.
Answer: Interesting question. As sad as this is, there would be less people, less jobs needing to be filled. More jobs created b/c of the illness and death. If people have life insurance the companies would be paying out a lot of money. People without insurance, their families might not be able to survive the loss of that person or income. Affects would be felt in the mortgage industry, etc. if those bills could not be paid due to the death of the wage earner.
Although, I think about how many people would die and that would be awful for family members.
I guess it depends on how you look at it.
Question: Social Security Survivor benefit question? My husband has recently passed at the age of 40. He hasn't worked in approximately five years due to an illness. Will this affect my childrens social security benefits?
Answer: Probably. The only way to find out what survivor's benefits might be available for your minor children is to apply at the nearest Social Security office. You will need his death certificate, SS card, etc. You also need the children's birth certificates and Social Security cards. Do not count on getting much if he had not worked for such a long period.
Question: Can insurance co. deny survivor's benefit due to prior overpayment of benefit to policyholder before death? Recently applied for a one time death benefit from Mother's disability/supplemental insurance policy. I provided all the necessary info. and forms to prove she was in fact disabled and died as a result of her illness. Insurance co. refuses to pay my survivor's benefit due to the company's prior overpayment of benefits to my Mother before her death. The insurance company has applied my survivor's benefit to the overpayment of claims and states that they will not pursue reimbursement of the overpayment of benefits @ this time and there are no additional benefits due on that account. Isn't it their loss that they made the error in payment of benefits to her before she died? Am I still entitled to to survivor's benefit?
Answer: No, it's not "their loss". They can actually attach her estate for any ADDITIONAL amounts that might be due. It's part of the policy conditions - she agreed to it when she got the policy in the first place.
Question: How does social security survivor benefits work...? when the monthly survivor benefit is around $650 currently with a maximum monthly benefit amount around $1300 and the person has two children (they are half-siblings and don't live together). Would they have to split the $650 or would they each receive $650, not to exceed the maximum monthly benefit? Thanks.
Answer: call the social security office
Question: When a child who recieves survivor benefits reaches 18 does her benefits get divided between the others? My husband died last year and now our 4 kids and I get survivors benefits. The oldest one is turning 18 next month and she will no longer get benefits. Will that benefit be divided between the rest of us or will our amount stay the same?
The youngest two are 2 and 6 so I have not gone back to work full time.
Answer: No you will lose that amount of the benefit. I don't know where you live, but I am in Ontario. I have two daughters...when my eldest turned 18..her benefits stopped. She decided to stay in school, so benefits were continued. As long as the child stays in school full time up to age 25.
Question: Social Security Survivor Benefit? My friend's half brother is having major family issues at home (he is 15) and wants to move in with my friend (his half sister) & her husband (his half brother). The boy talked to his dad about it and the dad threatened to take and keep all the boy's social security survivor benefits he has been receiving from his deceased mother, if he leaves. Is this possible or does the boy have rights to that money? Any info or links to help answer this would be great!
Answer: Surviorship money takes the place of child support when a parent dies and leaves behind minor children and the other parents has to support said children.
The money is technically his father's to raise his son, however, if the son moves out, then the father shoudl pay someone else the benefit to raise the boy. If he doesn't and it isn't being used to directly support the son, then the SSA would cease to pay the father if they knew the son was emancipated or no longer living with the father.
Question: My son's father died in 2005 and I am just applying for survivor benefits, how long will it take? My son's father died in a car accident in December of 2005. Now almost 5 years later I am applying for survivor benefit for my son. I have my appointment on October 13th. How long will it take until my son receives benefits. And does anyone know how much he will get? My son's father was 25 years old when he passed.
Answer: It probably will only take a couple months. Usually when it takes awhile its because they need to make sure nobody else has a claim but since its been so long you wont have that problem. You will not get back any of the money from the last 5 years, it starts when you first file. The amount depends on how much money he put into social security at his job. If he had a high paying job you will get a decent amount, or it might just be a small sum if he was minimum wage. You and your son will both get a check until your son turns 16, then only he will get it until he turns 18 (19 if still in high school). Your not allowed to save any of it as it is for raising and supporting your child. They will ask you once a year what you saved and if the answer is anything but 0 you might be asked to send it back.
Question: If my child gets Social Security survivors benefit? I was not married to my child's father when he died. My daughter gets survivors benefits. I am now disabled and applying for SSI, not SSD. Will my childs survivor benefits impact on my SSI benefits?
Question: Social security survivor benefit question. Please answer.? My dad passed away last month and he had legal custodianship of my daughter (although she physically lived in my home). The custodianship papers were filed with the clerk in 2003 when she was four years old. He has helped us over the years financially as well. Does she qualify for survivor benefits under SSA rules? (Kentucky).
Answer: Only if he adopted your daughter legally. Merely having a custodial relationship does not establish SS Survivor's benefits. He would have had to have been the child's parent.
Question: Would receiving disabled adult-child survivor benefits from my father reduce the Maximum family benefit? I have been receiving RSDI(Retirement Survivor Disability Insurance) benefits for some time based on my own work history. I thought I should have been receiving SSDI(Social Security Disability Insurance) benefits instead. After some research trying to sort out the difference between the two I found out I am eligible to receive adult-child survivor benefits based on my fathers work history since I was disabled before 22. This would be a lot more then I am receiving now because I was unable to work long enough to get a higher benefit.
My father remarried and had another two children after me both still under 18. When he passed they and my step mother began collecting survivor's benefits. There is a maximum family benefit and I'm worried that If I pursue this with Social Security I might end up reducing their benefits which I would never want to happen.
The only information I have found is that a divorced spouse can collect benefits without effecting family maximum, but will I as a bastard son reduce it?
If I do count against it, is it safe for me to wait till they turn 18 and are no longer eligible for the benefit to pursue it with social security? At that point only my stepmother and I would be counting against maximum and we would both be below it.
Answer: How long until your youngest half sibling turns 18? My best advice is to actually call the SSA toll number tomorrow and ask a live representative. They can analyze situations that are not covered by the information on the SSA web site. In my experience, the people who answer the toll free number are more helpful and knowledgeable than the employees at the local SSA office. The national SSA phone number is 1 800 772-1213. Good Luck!
Working after age 22 is fine, you just need to be able to prove that your disability was present and diagnosed prior to your 22nd birthday.
Question: survivor benefit from social security? my son who is 17 collects social security because his father died. if he gets a job, do they adjust his checks or do they stay the same. thanks.
Answer: In a year when your son collects Social Security benefits and works, his benefit will be reduced $1 for every $2 he earns over a limit. For 2009 this threshold is $14,160, and it will be slightly higher in 2010. He will never recover this reduction in benefit as his survivor benefits will be ending in 2010 or 2011 depending on if he is still in high school.
So, he might want to keep that in mind and earn under the limit, as the tax is effectively 50% when he goes over the limit.
Question: Claiming survivor benefits on tax return? My children receive survivor benefits for a deceased parent (benefits come to my attention) that are reported on SSA-1099. Do I need to claim the benefit amounts on my tax return for my dependent children?
Answer: No you do not claim them on your tax return. They are not taxable. Even if they were they would not go on your tax return.
Christine EA Master Tax Advisor
This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.
Question: Can a step parent take a childs survivor benefit check and not put it in a savings fund? If a spouse has died and the surviving spouse is a step parent to 1 or more of the children living in the house hold and that step parent never illegally adopted those children. When that surviving spouse starts receiving survivor benefit checks and does not put any aside into a savings fund for the step children but puts money aside for the biological child would that be illegal? Yes, that step parent filled out a Payee Report which gave them the right to recieve those checks but if it stated that that person needed to put whatever remaining money left over into a savings fund and they didnt what would that be called?
Please help! If you need more detail info. let me know this is very important.
Answer: A child's survivor benefit check is not going to be anywhere big enough to fully pay for everything that child needs. There won't be anything left. If the payee is caring for the child and the child has a roof over its head, food, clothing and goes to school, that will pretty much take care of that check.
Question: How long does it take to recieve survivor benefits from Social Security after applying? My daughters father died a few weeks ago and I was told by social securtiy that she does qualify for survivor benefits. I have an appointment this Friday to fill out the paperwork. How long does it take to start recieving benefits after all the paperwork is turned in?
Answer: If her father died in July, she would not be due her first check until August for July. You are also eligible if you were married to her father and are not remarried. Even if your work would prevent payment, you should file an application. Many SS employees will try to convince you not to file. This is not a good idea. SS pays all checks one month in the arrears. The date of your payment is determined by the day of her father's birth.
1st - 10th payment received 2nd Wed of month
11th - 20th payment received the 3rd Wed of month
21st - 31st payment received the 4th Wed of month
Also if there are other children in another household this could delay your payment while they try to obtain their application.
Question: How long does it take to receive survivor benefits from Social Security? My daughter is approved for survivor benefits and we got everything approved and turned in today. How long until we start receiving the money?
Answer: My four kids recieved an initial amount within two weeks and ONLY FOR THE SECOND PAYMENT did we have to wait a little longer than four weeks. When that payment did arrive it was higher to include the previous month.
We use direct deposit and from the time we got our first payment, it has NEVER been late. In fact it's early whenever there is a national holiday like Christmas or Thanksgiving. They are actually very good about being ontime - at least with the direct deposit which I recommend you set up if you haven't already (checks can be lost/delayed in the mail)
Question: How long does it take to receive survivor benefits for a VA disability? my dad passed away on may 31st, and my mom filed for the survivor benefits of his VA Disablity.
Answer: It depends on what state you live in.The V.A is slow.I would say 3 months on an average.But it is retroactive.
Question: How do I do my taxes for Social Security Survivor Benefits? Okay, I have heard somewhere that I am suppose to pay taxes for or from my ss survivor benefits. Does anybody know anything about this? How much am I going to owe if I recieved 750/month. What is the best way to prepare for this next year? ANy info would be great.
Oh yeah, I live in Wisconsin
Answer: Taxability of social security is dependent on filing status and what the rest of your income is. Social security benefits can be 0% taxable, 50% taxable, or 85% taxable. I have included a link to help you calculate how much, if any, of your benefits will be taxable.
Question: Do I have to report Social Security Survivor's Benefits when I file a tax return? I have custody of my two brothers and they receive survivor benefits. Do I report those benefits when i file my tax return?
Answer: if it asks then yes, u should consult ur tax guy/gal... but i don't think so because it's not ur income..
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