Former spouses can draw on ex’s Social Security

DEAR BRUCE » Both my husband and I have been previously married. We want to know how to find out if our exes are drawing on our Social Security. We have heard they can do this. — G.R. DEAR G.R. » It’s very likely, if you were married to your respective former spouses for more than 10 years and they find it to their advantage to collect under your Social Security accounts, that they have every right to do so. I don’t know if there is any way you have a right to be told whether they are collecting or not, but I doubt it. DEAR BRUCE » My wife and I are considering a reverse mortgage. We are 73 years old and have only a $50,000 mortgage. We would like extra income for updating our house and taking trips while we are “young” enough to enjoy them. What do you think of re- verse mortgages? — D.E. DEAR D.E. » I have no problem with you considering a reverse mortgage. Your $50,000 mortgage would have to be paid off in the event that you execute this plan. How much over the $50,000 you can qualify for depends on where you live, your home’s value and other variables.

Reverse mortgages are very good avenues for some folks, and absolutely lousy for others, but for you, it’s not a bad idea. It will have costs, but it will allow you to enjoy your estate. Good luck. Send questions to bruce@ brucewilliams.com. Questions of general interest will be answered in future columns. Owing to the volume of mail, personal replies cannot be provided. The Bruce Williams Radio Show can now be heard 24/7 via iTunes and at www.taeradio. com. It is also available at www.brucewilliams. com.