An article that appeared in FinancialPlanning.com, Navigating Social Security Changes noted the following:
Two popular Social Security strategies are on their way out in 2016.
Tax planners refer to them as “claim now and claim more later” and “file-and-suspend” strategies, and both are going to end on May 1.
Each allows for the collection of benefits by a spouse while the other spouse defers payments to let their funds grow in one form or another.
The good news is that if your clients are already utilizing these methods, they will be grandfathered in. Similarly, if they are 66 or will turn 66 before May, they can still file for these strategies before the deadline.
They also may want to take advantage of two potentially endangered strategies: the surviving ex-spouse and widow collection options.
Continue reading the complete source article.
