Who Gets Your Social Security If You Die Tomorrow?

Editor's Note: This story originally appeared on The Penny Hoarder.

Most of us never see the first 6.2% of our paychecks. That money goes straight to Social Security, with the primary goal of giving you a monthly retirement benefit someday.

But what if you suddenly died tomorrow? What happens to all that money you’ve paid into the system?

First, let’s address a common misconception: Social Security doesn’t set money aside in an account for you. Your payroll taxes fund the Social Security trust. Once you’re eligible, you receive benefits from the trust, which is offically called the Federal Old-Age and Survivors Insurance Trust Fund. But the Social Security Administration doesn’t have a pot of money with your name on it.

When you die, your Social Security payments will stop. If you die before starting benefits, your estate won’t get the money you’ve paid in.

But sometimes, someone else can receive Social Security benefits based on your record. That’s the case with spousal benefits, ex-spouse benefits and survivor benefits. Another person may be able to receive a Social Security benefit based on your benefit — but they aren’t taking “your” Social Security.

If you have a spouse, ex-spouse or dependents, they may be able to use your record to qualify for survivor benefits when you die. Here’s who gets what.

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