Who Keeps the Frequent Flyer Miles in a Divorce?
In a column published 10/24 in the Daily Business Review, Family Law Attorney Rebecca Palmer discusses how to handle frequent flyer miles during a divorce. She writes that frequent flyer miles are considered a marital asset and should be divided during a divorce settlement.
“Miles aren’t just ‘points.’ They’re currency,” writes Palmer. “Depending on the airline, a few hundred thousand miles could be worth a small fortune in flights, upgrades, or even luxury goods. But unlike cash or property, miles can be a little trickier to assign a dollar value to.”
To equitably divide a couple’s cache of accrued frequent flyer miles, Palmer advises determining the miles’ market value, reviewing airline policies about transferring miles to someone else, and communicating openly with your former spouse to ensure a fair compromise on sharing the miles.
“In the grand scheme of things, it’s just a pile of miles with almost zero cash value. They can be earned again,” writes Palmer. “Freedom, peace of mind, and the ability to fly solo, literally and figuratively, are what really matter.”
Read the story in full; click here (subscriber-based).