If I Remarry, What Happens to My Social Security? Experts Share What You Need to Know
From survivor benefits to SSI, here's how tying the knot again affects your payments—and why age 60 is a "line in the sand"
Getting remarried later in life is something to celebrate! After all, who doesn’t want to find someone to laugh, love and grow old with? For some, though, the idea of tying the knot again creates a lot of worry, especially in regard to their monthly Social Security payments. Below, we break down what happens to your Social Security payments if you remarry. Plus, we asked experts how to protect your money before and after you say “I do.”
If I remarry what happens to my Social Security?
After remarrying, a variety of things can happen to your Social Security benefits. According to Tyler End, Certified Financial Planner and CEO/Co-Founder of the retirement-planning company Retirable, your age, whether you’re collecting spousal benefits from a late loved one and whether you’re collecting disability or Supplemental Security Income (SSI) payments can all affect your Social Security payments.
“If you remarry before 60, you lose the ability to claim survivor benefits from a deceased ex-spouse,” End explains. “If you remarry after 60 while receiving survivor benefits, you have the option to continue receiving the survivor benefits or switch to your new spouse’s spousal benefits [which can be done after completing Form SSA-2]. These decisions can be complicated, and it is best to consult with an advisor to determine a claiming strategy.”
If you’re collecting benefits from a living ex-spouse before your wedding, the rules are different. Once you remarry, those benefits stop altogether. After a year of marriage to your new spouse, you become eligible for a new round of spousal benefits if your new spouse’s monthly payments are higher than your own.
And if you are collecting monthly disability payments, you get those benefits a bit earlier. Yehuda Tropper, CEO of Beca Life Settlements, a life insurance agency in New Jersey, says, “If you’re disabled, the time window moves down 10 years: You can remarry after age 50 without losing your deceased spouse’s benefits.”
Finally, if you’re receiving SSI payments, your monthly benefits might change as well since that program is needs-based. So if you combine your new spouse’s income and assets with yours and the total exceeds $3,000 a month—the max amount a married couple can earn a month to be on SSI—you can no longer receive the extra payments every month.
What to be aware of when remarrying and Social Security
According to End, “The most common pitfall we see is when people start to blend their financial assets and end up in complicated situations around beneficiaries and estate planning.”
“Many people have had long plans for who their assets would go to, but those plans often shift as financial goals change and new people become priorities. This can become especially complicated when children are involved and a spouse wants to prioritize legacy over spending in retirement,” he continues.
To avoid these complications, he recommends having open and honest conversations with your new spouse, your children and financial advisors. This can help ensure that everyone is on the same page when it comes to finances and could even save you some money.
Kelli Smith, CFP®, executive director of financial planning at Edelman Financial Engines, says, “From a planning perspective, age 60 is a big line in the sand. I tell clients facing this situation that remarriage before 60 can unintentionally shut the door on survivor benefits, while remarriage after 60 often keeps that income stream intact.”
“This doesn’t mean life decisions should be driven by Social Security alone, but if that benefit is meaningful to a retirement plan, timing is something that should be talked through before the wedding,” she continues.
“A financial advisor can help you understand how remarriage fits into your overall retirement plan, not just Social Security in isolation. And the Social Security office can confirm the specifics of your benefits under the rules,” she adds. “I usually suggest asking: Which benefits am I receiving now? How would remarriage change that? And what options do I have going forward? Answers to those questions can bring real peace of mind before making a major life decision.”
The bottom line?
Getting remarried is something you should do if it feels right for you, just be sure to talk about the decision with your partner, family and, if needed, a financial advisor.
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