A: Planning ahead for your family’s needs is extremely wise. If your family is dependent on your income, you will want to make sure that your Social Security survivor benefits are enough to provide for your loved ones after you are no longer around.
The Social Security Administration can estimate the amount of monthly payments made to your survivors. For example, if you are a 61-year-old retiree who last worked in 1990, your family’s monthly income would be:
- $1,067 for your children
- $1,067 for your spouse, if they are caring for any minor children
- $1,423 for your spouse when he or she retires
- $2,647 in maximum monthly payments for your dependents
These amounts are not only based on age, but the amount that you have paid into Social Security during your lifetime. If you were to pass away while you are still working, your family will be covered by your Social Security survivor insurance, and may be entitled to an even larger monthly payment.
For more information on how Social Security can provide benefits to your family, call the experienced West Palm Beach Social Security Disability Lawyer at Fetterman & Associates today or Call us at 561-845-2510 for FREE consultation.