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MEN THAT HAVE CHILDREN LATER IN LIFE ARE ELIGIBLE FOR AN EXTRA SOCIAL SECURITY BENEFIT?

Under existing social security rules, men that have children later in life (it would be gender discrimination but biologically women can’t currently conceive a child after age 60) are eligible for an extra Social Security benefit. Under the rule, when a man files for his social security benefits, each of his children under the age of 18 years is entitled to one-half (1/2) of what he would receive at full retirement age (even if he collects social security benefits early). Eligibility for the child benefit requires them to be: (i) under the age of 18 years; (ii) 18-19 years old if a full-time student (not higher than grade 12). For example, if a 62-year old man with a 10-year old child began collecting social security benefits immediately, not waiting till age 70 years, he would also receive one-half (1/2) of the maximum amount he would have received had he waited to collect at age 70 years, until his child reached the age of 18 years. At present, Donald Trump is receiving an extra $15,000 per year since his son is under age 18.


This post first appeared on Florida Estate Planning And Probate Law, please read the originial post: here

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MEN THAT HAVE CHILDREN LATER IN LIFE ARE ELIGIBLE FOR AN EXTRA SOCIAL SECURITY BENEFIT?

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