#socialsecuritylawyers

[ratlifflaw]

Denied for Social Security Disability Benefits? The Reliance Law Group provides Social Security advocacy and regularly practices before SSA in administrative hearings. If you have applied for benefits and were denied - call now.

THE RELIANCE LAW GROUP

Bristol: (276) 644-0992

Cedar Bluff: (276) 522-1220

www.reliancelawgroup.net

Reliable, Trustworthy, Effective Legal Representation.

[packardlapray-blog]

When is the Right Time to File for Social Security Retirement?

As you know that you can claim Social Security benefits at the age of 62 – but should you?

Many of my clients will ask a question about retirement planning, and while I am not a financial planner, I do in fact have some things to tell each client as they head into retirement. There is not one single answer for every individual, and there are indeed several different things that seem to go into whether someone should delay claiming their Social Security retirement. However, before you head down to your local Social Security office on the day you turn 62, you should decide how long it will be until you break even on your benefits.

As a lawyer who handles disability cases, often my clients are consulting me or have hired me because they already have failing health. So if someone does not think that they will live long enough to recover the money they will get by delaying claim past your 62nd birthday, then starting on one's Social Security as soon as possible probably is the smartest move to maximize the total benefits received during one's entire retirement. While waiting for your check to begin entitles you to earn delayed retirement credits, and thus a larger monthly check, it also means that you will miss out on many years of money that you will miss by delaying your check.

I recently read an article from a very educated professor from Stanford University who argued for delaying retirement as long as possible. This is because the longer you wait then the higher the monthly check will be. A retirement check from Social Security provides a guaranteed source of income for life, which makes waiting a little longer to maximize benefits make sense. Uncle Sam has been there every check of your life taking a bite out of it, and now it is your turn to have the Eagle deposit something into your bank account.

So in order for this to make financial sense, then you will need to collect this higher monthly income for several years to make up for all those months that you will miss collecting your benefit check. Eventually, you will reach your what I call your break-even point. To decide whether it makes sense to delay, I think that everyone should know exactly how to calculate this break-even point. This will give you a better idea of how many years it will be before the delaying or your retirements actually benefits you to make sure a delay.

To figure out how long it takes for you to break even by delaying Social Security benefits, calculate how much money you will receive over the years if you claim early, then divide this amount by the higher monthly benefits that you will receive if you delay the Social Security retirement check.

The Social Security Administration uses a formula to calculate your standard benefit amount based on your average wages over 35 years, adjusted for inflation. If you would receive $1,050 monthly at 62, your annual income would be $12,600. If you claim at 62 instead of waiting until 67, you will receive $63,000 over the first five years, which are checks that you would not have received had you delayed taking your check at age 62. Your monthly benefit, however, is 30 percent lower than it would've been had you waited. If you claimed at 67 and received $1,500 per month, your annual income would be $5,400 higher. To make up for the $63,000 missed, you will need to live longer and receive this extra income for 11.7 years ($63,000/$5,400). Therefore this person’s “break-even point” will happen several months after their 78th birthday. That is 11.7 years after your 67th birthday when benefits started coming.

The math differs depending on your specific benefits and how early you claim or how long you delay. The chart below provides an estimate of when you'd hit your break-even point at different ages, assuming a $1,500 benefit at a full retirement age of 67.

So, should you delay claiming benefits? Ultimately, this is your decision and many factors will go into whether you should wait to claim Social Security or take it as soon as possible. However, before you file with your local Social Security office, you can find out how long it will take you to break even.

Call Packard Lapray today to get assistance with any legal case in which you suffered due to the negligence of others. We have the right team with proven expertise to win your case.

[mayfieldlawfirmms-blog]

Social Security Attorney

If you are in need of a social security attorney, allow Mayfield Law Firm to help. It is our attorney's goal to provide the best possible service and help you in every possible way. With over 42 years in business, you can be sure that our social security attorneys will provide you with the legal aid you deserve. To learn more about our legal services, contact Mayfield Law Firm today.

https://www.southavenautoaccidentlawyer.com

[darrellcastlelaw-blog]

Can I get Social Security Disability Benefits for My Child?

What does the Social Security Administration (SSA) look for when considering disability benefits for a child?

Child must be under 18 years old (or 22 years old if in school, as approved by the SSA); there is no minimum age. He or she must have a qualifying diagnosis that interferes with functional abilities. The diagnosis or condition must be ongoing for at least twelve months or more. SSA also looks at household income and resources when determining benefits. Household income includes anyone in the home who is earning income.

*If your child is in a medical facility, there are different considerations when determining the amount of disability benefits that can be approved. SSI payments are typically limited in such cases.

What is Supplemental Security Income (SSI)?

According to the SSA, SSI is in place to assist people with low-income and limited resources. It is designed for people who are over 65 years old and children with qualifying diagnoses. Each state has its own formula for payment of SSI so the amount may vary depending on where you live. Your attorney or the SSA can help clarify this difference.

SSA Qualifying Conditions for Children

The SSA has a system of categorizing qualifying conditions for SSI payments. They are as follows: low birth weight, musculoskeletal system, special senses and speech, respiratory disorders, cardiovascular system, digestive system, genitourinary disorders, hematological disorders, skin disorders, endocrine disorders, congenital disorders that affect multiple body systems, neurological disorders, mental disorders, cancer (malignant neoplastic disease) and immune system disorders.

On average, it may take three to five months for a decision on your claim. The SSA does have a list of conditions that may qualify for immediate assistance. It is recommended you contact the SSA directly or seek advice from a social security attorney if that may apply to your child’s condition.

Why do I have to show my income?

The amount of SSI approval and monthly payment (if approved) depends on the need of the individual. This need is estimated based on the amount of household income and resources.

Necessary Forms

The SSA will need any information regarding the diagnosis and how it affects his or her ability to function on a day to day basis. It will be necessary to sign release of information forms so that doctors, teachers and therapists can answer questions about your child’s ability to function in different environments. It will also be helpful for you to include any reports and documents that you have with your claim.

What happens after my child turns 18 years old

In some circumstances, your child may qualify for SSI payments until 22 years old if they are in school and the criteria are approved by the SSA.  However, in most situations, on the 18th birthday, he or she is considered an adult and should apply for disability benefits under the adult criteria. It is highly recommended that you contact the SSA or an attorney, experienced in this area, for advice if this applies to your child.

How can an attorney help me?

Applying for assistance with the Social Security Administration can be incredibly stressful, confusing and time-consuming. More often than not, first time requests are denied. When you have an experienced attorney handling your claim, your chances greatly increase for approval of your request. In addition, a social security lawyer Memphis, TN trusts can provide emotional support to help guide you during the process.

Thank you to our friend and contributors at Darrell Castle & Associates, PLLC for their insight into social security.

[makrislawfirmpc]

If I Win My Disability Case, How Much Money Will I Receive?

When health problems lead to financial problems, monthly checks from Social Security Disability can help you survive. You probably want to know: How much does it pay? The answer depends on your work history and type of benefits you receive.

`Learn more at: http://www.houstonsocialsecuritydisabilityattorney.com/social-security-disability-help/faqs/win-disability-case-much-money-will-receive/

[brownmdjd]

Learn common reasons to be denied for Social Security benefits.

[mayfieldlawfirmms-blog]

Bankruptcy Attorney

The bankruptcy attorneys at Mayfield Law Firm are here to help you when you feel its time to file for bankruptcy. Our attorneys will work through the entire process with you, ensuring that you understand every step and file correctly. For more information on our bankruptcy attorneys, contact Mayfield Law Firm today.

https://www.southavenautoaccidentlawyer.com

[mayfieldlawfirmms-blog]

Auto Accident Attorney

At Mayfield Law Firm we are auto accident attorneys, here to provide you with legal services. If you were recently in a car accident, and are in need of legal help, allow us to help. We strive to provide the best possible service at the most cost-efficient fee. To learn more about our legal services, contact Mayfield Law Firm today.

https://www.southavenautoaccidentlawyer.com

[mayfieldlawfirmms-blog]

Welcome to Mayfield Law Firm your destination for a law firm that specializes in auto accident, bankruptcy, and social security in Southaven, MS and the surrounding area. We provide the services of an auto accident attorney, social security attorney, disability lawyer, and car wreck attorney, ensuring that one easy call gets you the comprehensive legal representation and guidance you need.

With over 42 years in business, we offer respect, trust, and a dedication to exceeding the expectations of our clients. Our law office provides all the services and resources you need to manage all of your legal services.

Mayfield Law Firm has all the tools, facilities, and expertise to handle all of your legal services in one convenient place for one affordable price. As your lawyer, we can handle all your auto accident, social security, and bankruptcy legal services, ensuring that you get the best and most versatile legal representation you can find. Contact us at Mayfield Law Firm today and we'll give you a comprehensive description of all the services and products we offer for getting legal representation that gets you the results you want.

https://www.southavenautoaccidentlawyer.com