Colorado spouses who are thinking about getting a divorce might wonder which spouse gets the air miles during the process. To some couples, air miles might be just as important an issue as real estate, cash, stock options and other marital assets. This is especially true in divorces where one or both spouses travel extensively for work, in which case air miles can prove to be quite valuable.
Different rewards programs have different rules concerning how points are divided if a couple gets a divorce. Therefore, the first step that couples thinking about a divorce should take is to check their program’s fine print. Some programs state in their terms and conditions that air miles cannot be transferred between spouses if they get a divorce. For people who are enrolled in these types of programs, one option they can take is to come up with a value for the air miles and then attempt to negotiate something of equal value in their divorce proceedings.
Other programs might allow for ways to make the division of air miles equal. For example, some programs might divide a couple’s air miles up evenly and place them in separate accounts for them. However, they might also charge them to complete this service, so couples should plan accordingly for how they’re going to split the fees. Still other programs might offer cash-out options that would allow the couples receive cash for their miles, hence being able to split up that money.
Experts say that regardless of how couples decide to divide up their air miles, they should try to think financially rather than emotionally. Divorce lawyers might be able to help people do just that by negotiating fair divorce settlements with their exes.
Source: Forbes, “Divorce: Who Gets The Air Miles?“, Jeff Landers, June 26, 2013
