Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $142,800 (in 2021), while the self-employed pay 12.4 percent.

The answer is I and III. The group or groups can typically draw benefits that are funded by Social Security taxes, are disabled workers and family members of deceased workers.

Social Security helps older Americans, workers who become disabled, and families in which a spouse or parent dies. As of June 2020, about 180 million people worked and paid Social Security taxes and about 65 million people received monthly Social Security benefits.

Who gets a Social Security death benefit? En español | Only the widow, widower or child of a Social Security beneficiary can collect the $255 death benefit. Priority goes to a surviving spouse if any of the following apply: The widow or widower was living with the deceased at the time of death.

If your loved one has recently died, and you’re wondering about the availability of Social Security benefits to cover the cost of cremation, the short answer is: Social Security does not pay for cremation or other funeral services.

While the SSI program does not pay for funeral expenses, Social Security does award a small death benefit to surviving family members.

Benefits For Your Divorced Spouse If you are divorced, your ex-spouse can receive benefits based on your record (even if you have remarried) if: Your marriage lasted 10 years or longer. Your ex-spouse is unmarried. You are entitled to Social Security retirement or disability benefits.

50 percent

A pension earned during marriage is generally considered to be a joint asset of both spouses. Most retirement plans will pay pension benefits directly to divorced spouses if the domestic relations order meets certain requirements. …

It depends on how the order was issued that granted her the pension benefits. Most likely, it was part of the property division in your divorce. However, if the pension benefits were part of a maintenance or alimony provision, then they probably should be stopped if she remarries.

If you purchased the ticket after you and your wife separated or post-divorce, and there are no extenuating circumstances, the lottery winnings are yours. In that scenario, the spouse with custody could take out a court order to ask that the portion due be awarded from your lottery winnings.

No, a veteran’s disability compensation payments are not continued for a surviving spouse after death. However, survivors may be entitled to a different type of benefit called Dependency and Indemnity Compensation.

Your second spouse typically will be able to claim one-third to one-half of the assets covered by your will, even if it says something else. Joint bank or brokerage accounts held with a child will go to that child. Your IRA will go to whomever you’ve named on the IRA’s beneficiary form, leaving your new spouse out.

The Guide to Money in a Second Marriage

1. Start with Honesty. The first step to combining finances in any marriage is to have an honest discussion with your partner—ideally before you get married—about everything related to money.
2. Consider a Prenup.
3. Consider the ‘Pot’ System.
4. Don’t Neglect Estate Planning.

Here are 9 challenges of being a second wife to watch out for:

• Negative stigma.
• The statistics are stacked against you.
• First marriage baggage.
• Being a stepparent.
• A second marriage gets serious quick.
• Financial issues.
• Nontraditional holidays.
• Relationship issues we all face.

Men have always been more likely to remarry than women, although this gap has closed somewhat. Today, 64% of men and 52% of women have remarried. However, when you split up the numbers by age, there’s one group that is significantly less likely to get remarried: women over the age of 55.

Being someone’s second wife may force you to look at your relationship in a more mature and respectful way. It can make you learn to communicate about the present and the future – because more often than not, your partner isn’t looking to make the same mistakes again.