My wife died. Do I need a new ANCHOR application?

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Q. I’ve just received my ANCHOR benefit confirmation letter. However, my wife died suddenly in April. We are both seniors. Do I have to file a new application? Is her passing going to affect the amount I receive? I have not moved.
— Widow

A. We’re sorry to hear about your wife.

For this particular ANCHOR benefit, which is for the 2021 tax year, you don’t need to do anything.

The benefit is based on your status in 2021, during which time you were married. As long as you meet the other eligibility requirements, you’ll get the benefit.

As for how much you would get, seniors — those were were 65 or older by Dec. 31 of that year — get an extra $250.

The base benefit for eligible renters is $450 as long as your income was $150,000 or less.

For homeowners who earned $150,000 or less, the amount is $1,500. Those homeowners who earned $250,000 or less will get $1,000.

You must have owned and lived in your home, or rented your place, as of Oct. 1, 2021 to be eligible.

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This story was originally published in August 2024.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.

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