What happens when one of them dies
This is the piece families almost never plan for, and it catches people off guard. When one spouse dies, the survivor does not keep both Social Security checks — they keep the larger of the two, and the smaller one stops. If your parents are getting, say, $2,400 and $1,600 a month, the total to the household drops from $4,000 to $2,400. That is a real, permanent cut to household income at the very moment someone is grieving, so it is worth knowing about now and building into the plan — it is one more reason a surviving spouse's expenses, and any life insurance, deserve a look. A survivor who has reached full retirement age receives 100% of the deceased's benefit; claiming survivor benefits earlier reduces it. When the time comes, report the death promptly — the funeral home often does it, or you can call Social Security at 1-800-772-1213 — ask about the one-time $255 death payment, and know that any benefit paid for the month of death usually has to be returned. If the survivor was already receiving spousal benefits, Social Security will usually switch them to survivor benefits automatically.
Taxes and Medicare premiums
Two things quietly eat into the benefit. The first is taxes: depending on your parents' total income, up to 85% of their Social Security can be subject to federal income tax, and it interacts with pensions and required withdrawals (RMDs) from retirement accounts, so a big withdrawal in one year can make more of the benefit taxable. The second is Medicare: Part B premiums are deducted right out of the Social Security check, and higher-income retirees pay a Medicare surcharge called IRMAA that is based on their income from two years earlier. More details about Medicare can be found in our Medicare section.
Making sure the benefit is protected and managed
A few practical habits keep the benefit safe. Have it deposited into an account your parents control, and set up their my Social Security account with a strong, unique password (see the fraud page — the "your Social Security number has been suspended" call is one of the most common scams aimed at older adults, and Social Security will never call and threaten like that). And here is something most families don't learn until they hit it: Social Security does not accept a power of attorney. If a parent can no longer manage their own money, someone has to be appointed their representative payee to receive and manage the benefit on their behalf. It is worth understanding before you need it; the daily money management page covers how this fits with the rest of their finances.
One more thing to check: public pensions
If either of your parents worked a government job that didn't pay into Social Security — many teachers, firefighters, police officers, and some state and federal workers — their benefits used to be reduced by two rules called the Windfall Elimination Provision and the Government Pension Offset. Congress repealed both with the Social Security Fairness Act at the start of 2025. If that describes one of your parents, they may now be getting a larger benefit, or may be newly eligible for a spousal or survivor benefit they were previously denied, so it is worth a call to Social Security.
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