Posted 26 Sep 2015
Don’t be so fast to spend the first Social Security check deposited into your wife’s bank account following her passing, for if you were to do so, you may find that you have to pay it back. WHY? Because Social Security is paid in advance. In order to be eligible to receive any amount paid, the payee must live for the entire period (month) the payment is intended to provide for. Recommendation: Contact your Social Security office following your spouse’s passing for details.
And did you know widowers are eligible for a widower's Social Security payment if they are 60 or older. Eligible widowers may want to subscribe for this payment and defer going on their own Social Security program. Doing so will allow your personal plan to grow in the amount to be paid once you switch over in a year or two. As with most things financial, be sure to visit with a qualified financial planner to assist you. It is well worth the investment, regardless of your financial standing.
Posted 16 May 2015
After becoming a widower, most men find themselves performing many new tasks. When doing so, it is always helpful to have the advantage of a few friends to offer some advice and money or time saving tips. Here are just a few.
1. For those widowers who are disabled veterans, you can receive 10% off on all purchases at Home Depot and Lowes. You can also recevie 10% off on your AT&T cell phone bill. Just inquire at the respective stores.
2. All Veterans are eligible to receive final resting places for both the veteran and his deceased bride at any one of over one hundred National Cemeteries. Free services include a plot, a grave stone and more. This can be a significant savings for thsoe who are interested. Contact your local National Cemetery for details.
3. To increase the amount of your income tax deductions, arrange to have any fees charged by your financial service provider on your qualified retirement accounts charged to your personal non-qualified accounts. This advantage may not impact everyone so as always, be sure to check with your tax advisor for details.
Have a tip you wish to share with other widowers... please post it in the comment provided on the Blog. See: "More"