Estate Planning Forms, Wills & Trusts

PENNYBORN™

Estate Planning

Financial Decisions

Title to Property

Social Security Benefits

Domestic Partners

For Women

State Laws

Newsworthy Cases

Estate Plan Tips & FAQs

Glossary of Terms A-G

Glossary of Terms H-N

Glossary of Terms O-Z

Unequal Shares

Dying Without a Will

Wills & Trusts

Types of Wills

Living Trusts

Other Types of Trusts

Trust Law

Fatal Errors in Execution

Codicils/Amendments

Inheritances

Will & Trust Disputes

Disinheriting an Heir

Community Property

Change My Will

Specific Bequests

Making Specific Bequests

Medical Decisions

Living Wills

Health Care POA

Medical Decision Laws

Terminal Illness

Right to Die

DNR Orders

Advance Directives

Children

Guardianship

Single Parents

Blended Families

Special Needs Trusts

College Funds

Medicaid for Children

Gifts to Minors UTMA

Adopted Children

NonMarital Children

Dependent Adult Child

Child Guardian Letter

Lump Sum Inheritance

Estate Taxes

Gifts and Gifting

Charitable Giving

The Marital Deduction

Find a Tax Professional

Generation Skipping Tax

Inheritance Tax

Estate Tax Info

Pets

Pet Trusts

Pet Retirement Homes

The Law on Pet Trusts

Funding Pet Trusts

Letter to Pet Guardian

Pet Owners Estate Plan

Pet Trust Info

Memorial Preferences

Funerals & Services

Cremation

Burial Options

Funeral/Burial Expenses

Organ Donation

Disposition of Remains

Funeral PrePaying

Write an Epitaph

List of Epitaphs

Burial Assistance

Write Last Wishes Letter

Life Insurance

Types of Policies

Viatical Settlements

Insurance Companies

Life Insurance Trusts

On Adult Children

Financial Planning

IRA's & Your Estate Plan

401K's & Your Estate Plan

Annuities & Your Estate

Find a Financial Planner

Long-Term Care Insurance

LTC Policy Fine Print

Inherited IRA's

Charitable Gift Annuities

Small Business

Types of Entities

Shareholders Agreements

Business Succession Plans

Selling the Business

Need for Liquidity

Probate

Probate of Small Estates

Probate an Estate

Probate Questions

Probate Lawyer

Executor Bonds

Free Probate Guide

Estate Administration

For Executors

Executor Checklist

Executor Powers

Creditor Claims

Estate Property Form

Tax Returns Due

Safe Deposit Boxes

File Will of Deceased

Death Certificate

Issues facing Seniors

Tips for Seniors

Info for BabyBoomers

Long Term Care

Assisted Living

Medicaid Planning

Dementia & Wills

Funerals and Medicaid

Books & Software

Estate Planning Books

Software

Will & Trust Books

Books About Probate

Funeral Planning Books

Medicaid Planning Books

Books for Trustees

Living Will Books

IRA 401k & Annuity Books

Estate Tax Books

Long Term Care Books

Last Wishes Planners

Free Estate Planning

Free Estate Plan Forms

Last Wishes

Estate Plan Coversheet

Estate Planning Worksheet

Pet Guardian Form

Contesting a Will

Holographic Wills

Undue Influence

Proving Undue Influence

More About Trusts

QTIP Trusts

CharitableRemainderTrusts

PowerofAppointment Trusts

Spendthrift Trusts

Dynasty Trusts

Minor's Trust

Crummey Trusts

Irrevocable Trusts

Terminate a Trust

Guide to Living Trusts

Benefits of Living Trusts

Living Trust Checklist

Living Trust Property

Revoke Living Trust

Forms for Trustees

For Successor Trustees

Trust Administration

For Trustees

Trustee Checklist

Living Trust Accounting

Trust Accounting

Open Trust Account

Administer a Trust

How to End a Trust

Trust Law Sources

Spouses & Partners

Spousal Share

Partner's Share

Joint Wills

Required to File Will

Disinherit-a-Spouse

Title-Property-Disinherit

Legacy Planning

Unwanted Pets

Animal Charities

Non-Probate Transfers

Pay on Death Accounts

Transfer on Death

Funeral Planning Guide

Best Funeral Songs

Last Wishes Letter

How to Plan Your Funeral

Greedy Heirs

Adult Child's Inheritance

Protecting Parents From

Greedy Siblings

Estate Planning Questions

Safe Deposit Box

Leave Stock in Your Will

Questions-About-POAs

Why Leave Last Wishes

Heirs and Beneficiaries

Debts Owed to Deceased

 
How Social Security Benefits May Impact Your Estate Plan
When planning your estate, you should find out whether your dependents will be eligible for any income assistance to help in your absence. This type of income planning may help in deciding how to name beneficiaries on your retirement accounts, annuities, brokerage accounts, and bank accounts. It may also help you decide whether you need to purchase additional life insurance to provide for your spouse, children or other dependents.



If you want to find out whether your spouse, child, parent, ex-husband, ex-wife or other family members will be eligible for Social Security benefits after your death, contact your local Social Security office.


Social Security Benefits and Burial Expenses
As the cost of funeral arrangements continues to increase, many families have trouble paying expenses for burial or cremation when a relative dies. The surviving spouse or child of the deceased may apply for a one-time Social Security payment of approximately 255.00 dollars, if certain eligibility requirements are met. This benefit amount is not enough to cover the full cost of any type of disposition of remains. However, it could be used to pay a small portion of such costs.

When applying for benefits after the death of a parent, spouse, partner or child, you will need a death certificate. See how to obtain a death certificate.

To learn how much it typically costs for a funeral, burial, and cremation in the United States, see can I afford a funeral.

If you are unable to pay the cost of final arrangements for a relative, see our page on burial assistance.


Will Your Heirs Be Eligible for Survivor Benefits?
When a worker who has paid Social Security taxes dies, the deceased worker’s spouse or other relatives may be eligible to receive Social Security survivors benefits. The number of years of work required for eligibility depends on the deceased worker’s age at death.

Survivors who may be eligible for benefits include widows, widowers, unmarried children, children who were disabled prior to age 22 that remain disabled, parents age 62 or older that were dependents of the deceased worker, and in certain circumstances, adopted children, stepchildren, and grandchildren. If you are divorced, remarried or retired, this may affect your eligibility for Social Security survivor benefits. An ex-spouse of the deceased worker may be eligible for a widow's or widower's benefit. See also spousal share.

A free guide on Social Security benefits available to survivors is available on the Social Security website at www.ssa.gov. Information is also available by creating an account and viewing your benefits online at www.socialsecurity.gov.


Executor Duties and Social Security
There are a few steps the executor of an estate must complete with regard to Social Security. First, the executor or personal representative of a deceased person's estate should make sure the Social Security Administration is promptly notified of the decedent's date of death. The funeral director will typically provide this notification to Social Security if you provide the funeral home with the decedent's social security number. To contact the Social Security Administration to report a death, call 800-772-1213. If you are deaf or hearing-impaired, call 800-325-0778.

Also, if the deceased person was receiving Social Security benefits, the payments received for the month in which decedent died and any months after the month of death must be returned to the government. The decedent's estate or the representative payee that received them is liable to repay these benefits to Social Security. Any overpayment of Social Security benefits must be repaid.

If the Social Security payments were received by the deceased or the representative payee via direct deposit, they will be debited back out of the account or reclaimed by Social Security. Therefore, the person settling the estate needs to keep the account open for the time period required for the funds to be taken back by Social Security. If the benefits were paid via check, the checks should be returned to Social Security. For instructions on how to return overpayments made to a decedent by Social Security, contact the Social Security Administration. Consult an accountant for assistance returning overpayments of Social Security.

This article was updated on October 19, 2018.


Estate Planning and Trust Administration

THIS WEBSITE USES COOKIES. BY CONTINUING TO USE THIS SITE, YOU ARE PROVIDING US WITH YOUR CONSENT TO OUR USE OF COOKIES. PLEASE SEE OUR PRIVACY POLICY FOR DETAILS. 

I ACCEPT

Copyright © 2009 - 2022 Pennyborn.com. ALL RIGHTS RESERVED. Pages, articles, paragraphs, forms, letters, images, photos, and other content on this site may not be copied, excerpted, reprinted, republished, broadcast, rewritten or redistributed.  The marks PENNYBORN and Pennyborn.com are trademarks and may not be used without our prior written consent. It is a violation of state and federal law to use a trademark without permission.

INFORMATION ON THIS SITE, INCLUDING ARTICLES, ESTATE PLANNING FORMS, AND THE ESTATE PLANNING BLOG, DOES NOT CONSTITUTE LEGAL, FINANCIAL OR TAX ADVICE. Pennyborn.com is not a law firm and is not a substitute for a lawyer. Your use of this site does not create an attorney-client relationship. Information on this site is for educational purposes only and may not be accurate, complete or up to date.

Your use of this website constitutes acceptance of our Terms of Use.

For information about Pennyborn.com and how to advertise on this website Contact Us.