When one spouse passes away, the surviving spouse’s social security benefit may change significantly, and many retirees are unaware that they generally do not continue receiving both monthly checks. In most cases, the surviving spouse receives the higher of the two benefits, while the smaller benefit stops, which will still create an unexpected reduction in household income. It is important for retirees to understand in advance how much income could be lost and plan appropriately for their ongoing living expenses. Call us if you’d like to review some options for income you can’t outlive, even when a spouse passes. We’re always here to help.
