A MarketWatch columnist advised a daughter concerned about her 82-year-old mother’s finances to respect her independence after a notice said Social Security had overpaid her about $20,000. The columnist said the mother should seek the agency’s calculation.
The columnist said the mother should request an annual earnings record and an explanation of the calculation, then check whether benefits were withheld correctly while she worked before full retirement age. The column said Social Security may begin withholding 50% of her monthly benefit 30 days after the notice date. She can seek reconsideration within 60 days; an appeal filed in that period pauses collection during review. If she owes the money but cannot afford repayment, she can request a waiver on hardship or fairness grounds.
The daughter also reported that her mother paid a neighbor $2,000 for cleaning out her garage and could not recall details of a caller who claimed there was a problem with one of her accounts. The columnist said these incidents were cause for concern but did not amount to overwhelming evidence of cognitive decline. He advised the daughter to stop pressing to see her mother’s accounts, affirm her autonomy and offer support or an objective financial adviser.