Social Security benefits represent a large portion of most seniors’ retirement income, but because of the way the system has changed since its introduction more than 80 years ago, it is has become extremely complex and difficult to navigate. Hundreds of amendments have been made to the Social Security Act during that time, which is why it’s important to speak with an elder law attorney in Ohio to find out which Social Security options are out there and right for you.
For example, a lot of people don’t know that they don’t have to quit working entirely in order to begin collecting Social Security benefits, but this small bit of information can make a huge impact on their income levels. In fact, there are at least four ways that a single person can collect Social Security, while law attorney who can walk you through all of these options is a good way to find out what’s available to you and how it can benefit you in the long term.
As far as married couples are concerned, we must keep in mind the fact that the wife usually survives the husband and will then be eligible to collect his Social Security benefits. This is very important, as almost a quarter of widows and other single female seniors live below the poverty line. This reason alone makes it critical to spend time with an Ohio elder law attorney in order to put together a comprehensive plan that covers either spouse in the event that the other passes away.
While it might be tempting to go it alone or seek advice from friends and family who are collecting Social Security benefits, the fact remains that the system is complicated, and everyone’s individual situation is different. Ohio elder law attorneys are well-versed on how Social Security works and can provide solid advice. Whether you plan to live strictly off of your Social Security benefits, or if those benefits will be used in other ways as a part of your long-term retirement plans, this is not an area to take lightly.
If you’d like to learn more about your options for Social Security benefits, or if you’d like to have your current estate or elder law plans reviewed to make sure they still fit your needs, please contact our Ohio elder law office at 877-653-3450 to schedule a complimentary initial consultation.
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