Your current and former spouses could be eligible for Social Security benefits, subject to certain requirements.
Dear Liz: I’m in a second marriage that’s lasted 10 years. Is my wife fully entitled to my Social Security after I die? My first wife and I were married for 19 years. Is my ex entitled to any of it? Answer: Both your current spouse and your ex could be entitled to survivor benefits based on your work record. Typically someone must be married nine months to qualify for survivor benefits on a current spouse’s record. If the spouses divorced, the marriage must have lasted 10 years.
Before you distribute the money, however, get clear on what exactly the “understanding” is about this money. If the trust clearly states this amount goes to your daughter, that’s one thing. If this money has been allocated to you, however, and you’re complying with your parents’ unwritten wish, you may have to file a gift tax return when the money is distributed. An estate planning attorney can advise you. Dear Liz: Not so much a question but a follow-up to previous advice in your column.
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