How many years do you have to be married to get retirement?
How many years do you have to be married to get retirement?
You only need to be married for one year for your spouse to collect Social Security spousal benefits but depending on your spouse’s age, it might be a good idea to not file just yet. Ideally, both you and your spouse should be at full retirement age before collecting benefits—age 66 or 67 depending on your birthdates.
Who you should never name as your beneficiary?
Whom should I not name as beneficiary? Minors, disabled people and, in certain cases, your estate or spouse. Avoid leaving assets to minors outright. If you do, a court will appoint someone to look after the funds, a cumbersome and often expensive process.
Can my wife access my 401k if I die?
When a person dies, his or her 401k becomes part of his or her taxable estate. “As the named beneficiary of the plan, you should be able to access the money even while the rest of the estate is in probate,” said Fred Mutter, tax manager at Deloitte and Touche.
Who gets my Social Security money if I die?
Your family members may receive survivors benefits if you die. If you are working and paying into Social Security, some of those taxes you pay are for survivors benefits. Your spouse, children, and parents could be eligible for benefits based on your earnings.
