Woodland Hills Office Serving San Fernando Valley
(Also Learn About Disability Claims)
Social Security Retirement Claim Strategies
The complexities of the Social Security retirement system can be overwhelming – especially as it relates to the advantages and disadvantages of choosing the best retirement start-date given your individual retirement needs and goals.
The timing of your claim is extremely important and the strategy you choose before making your decision will determine the amount of social security benefits you will be eligible to receive over the course of your remaining years. On average, the value of a completely paid-out social security retirement claim can be worth as much as a million dollars. So, depending on your circumstances, proceeding with the right claim strategy can save you literally thousands-of-dollars every year.
You need to know however, that once you choose a claim date to begin receiving your retirement benefits, it can be very difficult, if not impossible, to change the date. See below regarding withdraw strategies.
Remember, the Social Security Administration neither has the legal obligation, nor the incentive, to assist you in determining which claim strategy will yield the highest financial return. In fact, just the opposite is true, the goal of the Social Security Administration is to preserve and grow the fund, not deplete it.
One example of a claim strategy is whether you should consider whether to “file and withdraw” or “file and suspend” your Social Security benefits. This will depend on a number of key factors. By consulting with us before you choose your claim date, you may be able to increase your benefits and help secure a brighter financial future.
File And Suspend Strategy
The benefit enhancing strategy of “file and suspend” was a little known rule that was added to Social Security in 2000 as part of the Senior Citizens Freedom to Work Act. The goal was to help couples plan for their retirements.
The “file and suspend” is a strategy that can substantially increase benefits for qualifying couples through the use of a combination of spousal benefits and what Social Security calls delayed retirement credits. To qualify, at least one member of the couple must have reached full retirement age, currently 66 for people born between 1943 and 1954. To learn more and determine if you qualify, contact us at 818-906-1441 or use the Contact Us Form above.
File And Withdraw Strategy (The Do-Over)
The “file and withdraw” strategy, sometimes also referred to as the “Do-Over” option arose from the difficulty workers were having in selecting the best start date to begin receiving their benefits.
Due to a declining economy, many retirees choose to begin receiving their benefits as soon as they are eligible. Unfortunately, it does not take long until they realize they might have been better off waiting a few more years. However, a little known provision in the Social Security rules allows retirees to do a “do-over” when it comes to their original choice on a start date. But there are specific requirements to qualify for this claim strategy.
Specifically, to qualify for a “do-over” you will need to first file to suspend your benefits, pay back the total Social Security amount collected (without interest or penalties), claim a tax credit or deduction for any income taxes paid, and then re-file for the larger benefit amount that you would be entitled to at that later age.
This rule allowing a “do-over” became effective in December 8, 2010. However, you are allowed one “re-do” per lifetime, and that “re-do” must occur within 12 months of the first month of entitlement. To find out more call 818-906-1441 or use the Contact Form above.
Social Security Disability Insurance
If you have been rendered unable to work as a result of a medical disability caused by an accident or medical condition, the preferred approach is to contact a qualified attorney with extensive health care experience to assist you with your claim.
Choosing A Disability Lawyer
If you have been disabled from an injury or health condition that prevents you from working or otherwise earning a living, reach out to the experienced and dedicated health care attorneys at Drake & Associates.
Our office has the medical expertise, advocacy skills, and legal resources to represent you in applying for disability benefits. We can also advise you whether your disability was the result of third-party negligence, and if so, whether you may be legally entitled to recover additional compensation.
Peace in Knowing You Retained Premium Legal Talent
Nothing is more challenging than wanting to work but being unable to because you have suffered an accident or medical condition that has rendered you physically disabled and consequently unable to obtain gainful employment. You can, however, take comfort in knowing that you are retaining premium legal talent.
With extensive medical knowledge and over thirty-five years of healthcare trial experience, Kenneth Drake has received among the highest professional ratings among his peers for the depth of his experience and advocacy skills. Equally important, Ken is dedicated to providing each and every one of his clients with respect, responsiveness and a deep sense of compassion rarely found in the legal profession.
Find out more by calling us and receive a no-charge initial legal evaluation. Call 800-627-6566 or contact us through our confidential Social Security Case Evaluation Form and one of our attorneys will respond to your inquiry as soon as possible.
If You Can’t Travel To Us – We’ll Travel To You
To better serve you, if you or a loved one is physically unable to visit our office, one of our attorneys will visit you at your home or hospital.
Law Offices of Kenneth W. Drake & Associates, Inc.
21241 Ventura Blvd. Suite 288
Woodland Hills, Ca. 91364
Tell Us About Your Case…
Call 800-627-6566 or fill out the confidential Social Security Evaluation Form below for your no-cost initial evaluation:
Early Retirement Due To Medical Disability
Some people must stop working before the retirement age due to health problems that render them physically and/ormentally unable to work. If you cannot work because of health problems, you should consider applying for Social Security Disability benefits immediately. The amount of the disability benefit is the same as a full, unreduced retirement benefit. If you are receiving Social Security Disability benefits when you reach full retirement age, those benefits will usually be converted to retirement benefits.
Eligibility To Receive Disability
You may be eligible to receive disability if you: cannot work due to your disability, have been, or are expected to be disabled for at least 12 months, you are under the age of 65 and have worked at least five of the last ten years or have limited income. You must also have physician(s) that can provide detailed medical evidence that support your claims for disability.
Purpose For Social Security Disability Application
The purpose behind the application process is to demonstrate that you are disabled and unable to secure employment because of the nature of your disability. If you understate your condition or do not fully detail the complete scope of your disability, and Social Security determines you are still capable of securing work, your application will be denied.
Improve Your Chances For Approval
Filing a Social Security disability claim is confusing and frustrating. The degree of detail involved can be so overwhelming that it often discourages an otherwise eligible applicant from applying for benefits.
Most people are unfamiliar with the social security disability process and choose to handle it themselves. You should know that the approval rate for obtaining disability is less then fifty percent for first time applicants.
To save time and improve your chances of obtaining approval, consider using the services of a skilled Social Security attorney. Our services are available without having to pay any upfront out-of-pocket costs. Our professional fees are on a contingency basis. This means we don’t get paid until you do.
Application Must Be Complete, Documented And Detailed
In order to obtain disability, the burden of proof rests with the applicant to detail not only the nature of the injury and the level of dysfunction and/or limitations, but also the degree to which the disability prevents the applicant from “safely” working at their job. This often requires obtaining medical experts to help you substantiate your claims.
You will need to demonstrate how your disability has affected your daily life. It will be important to include the physical tasks involved in your previous work history in order to demonstrate how your current condition prevents you from fulfilling such tasks today.
When it comes to proving a disability claim, providing as much detail as possible along with the right type of medical documentation will determine your chances of obtaining approval on your claims.
Time It Takes To Receive A Decision
In most cases, the disability application process can take up to six months or longer depending on whether you have submitted the proper medical and employment documentation and the necessary supporting evidence to prove your claim.
While most claimants that apply on their own for disability are initially denied on the first application, you can increase your chances of receiving approval by retaining competent Social Security counsel. And if we are unable to help you with your particular case, we will assist you in finding the right person that can.
Woodland Hills Office Serves The Following San Fernando Valley Communities: