Search

I am 62 years old and ready to start getting my Social Security benefits. I have two children aged 16 and 17 who are still in high school. Can they also get Social Security benefits on my record?

When you qualify for Social Security retirement benefits, your children may also qualify to receive benefits on your record. Your eligible child can be your biological child, adopted child or stepchild. A dependent grandchild may also qualify.

To receive benefits, the child must:

  • be unmarried; and - be under age 18; or 
  • be 18-19 years old and a full-time student (no higher than grade 12); or 
  • be 18 or older and disabled from a disability that started before age 22.

Normally, benefits stop when children reach age 18 unless they are disabled. However, if the child is still a full-time student at a secondary (or elementary) school at age 18, benefits will continue until the child graduates or until two months after the child becomes age 19, whichever is first.

Within your family, each qualified child may receive a monthly payment up to one-half of your full retirement benefit amount, but there is a limit to the amount that can be paid to the family as a whole. This total depends on the amount of your benefit and the number of family members who also qualify on your record. The total varies, but it is generally equal to about 150 to 180 percent of your retirement benefit.


Related Answers

  How do I get Social Security credit for my military service?
  What type of information will I need to have to complete the Social Security Benefit Eligibility Screening Tool (BEST)?
  My ex-wife died a month ago. Are our children, ages 11 and 14, eligible for Social Security benefits?
  What is the earliest age that I can begin receiving retirement benefits?
  I have tried to apply for Social Security benefits using the online application and keep receiving the message Social Security is unable to process the request. What is the problem?
All Answers


More Resources

Answers
  

Quiz of the Day
    Q: Which of the following has not been a CEO of GE?

Word of the Day
   Letter of Intent

A "letter of intent" is a document where two or more parties set forth an indication of interest in doing a deal and that they wish to continue discussions and negotiations further. The letter of intent lays out the principal terms of the proposed deal to make sure the parties have a "meeting of the minds" before they devote the greater amount of time, effort and money it take to enter into and consummate a definitive agreement. Letters of intent (or term sheets) are used for acquisitions, venture capital financings, and proposed joint ventures. The key issues in letters of intent include:

    • Structure: What is the basic structure of the deal? For example, if it is an acquisition, is the deal a purchase of assets or a purchase of stock?
    • Price and terms: How much money is involved? Will the payment be in cash at the closing or spread out over time?
    • Main obligations: What are each side's key obligations?
    • Closing: By what date will the parties sign a definitive contract and close the deal? The letter of intent can also say that if a definitive contract is not signed by that date, then both sides are free to go elsewhere or continue discussions, at their option.
    • Exclusivity: Will the negotiations between the parties be exclusive for a period of time? If one party agrees to exclusive negotiations, it will probably want this to last only for a limited period of time, such as 21 days. Agreements for exclusive negotiations can be legally binding on a seller. Buyers of companies often like to get exclusive negotiation provisions because they can get some leverage in the later negotiations.
    • Conditions: What key conditions have to occur before a final agreement can be executed? For example, buyers of businesses typically want at least two conditions—that they are satisfied with their review of the business and that they have obtained whatever financing is needed to close the deal.

Sample letters of intent can be found at www.LegalAgreements.com.
Go to Definition
Copyright © E-PersonalFinance.com. All rights reserved.
No part of the content or the data or information included herein may be reproduced, replicated or redistributed without the prior written permission of E-PersonalFinance.com.
Use of this site is governed by our Terms of Use Agreement and Privacy Policy.