Monday, March 31, 2008

Today show: Social Security Death Benefit

The topic of Social Security death benefit came up on the NBC Today show this morning (March 31, 2008).

The SSA reference is “What to do when a beneficiary dies,” link here.

There is a one time benefit of $255 payable to a live-in surviving legal spouse, or to a live-apart spouse if that spouse is eligible for benefits on the beneficiary’s record as one number holder.

When there is no surviving spouse, the payment can be made to a dependent child, but the child must be eligible on the beneficiary’s record (normally that means the child is a minor and not on his or her own).

There are survivorship benefits available to the spouses and dependent children and even dependent parents, but it appears that such persons have to be claimed as dependents on income tax returns and be dependent in a legitimate way.

It appears, from what was said on the Today program, that the benefit is reported on the recipient’s tax return.

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