Maximizing Surviving Spousal Benefits
We live in VA. I'm 6 months away from 62. My spouse is 12 months away from 62. If we both started drawing at 62, I would get $1600 and and 6 months later my spouse would get $1000. Right now we are not in a money crunch so we are looking at maximizing the surviving spouses benefit when one of us dies (part of estate planning). Can I claim my spousal benefit which would be $500? If I claim 1/2 of my spouse's benefit, what happens to my own?? Can I claim my own benefit at 66 with the benefit being increased to $2100 (31% higher)? If either of us die, the remaining spouse would get the higher of either spouse?
Re: Maximizing Surviving Spousal Benefits
Try using the SSA's benefits calculators to run your various scenarios.