Negotiating a divorce settlement in Wisconsin can be an all-consuming process as the parties value and divide the assets of their marital lives. While couples expect to negotiate the division of real estate assets, bank and retirement accounts, and stock portfolios, they also need to be prepared to negotiate the division of more unique marital assets as well, including automobiles, jewelry, art and frequent flyer miles.
While squabbling over an item as mundane as frequent flyer miles might seem cliched, it does happen with surprising regularity during the negotiation of divorce settlements. The miles and reward points accumulated as a result of airplane, hotel and credit card rewards programs can be hard to value. Further complicating the matter is the fact that many rewards programs do not permit its participants to transfer or divide the accumulated rewards points and frequent flyer miles.
The program’s terms and conditions will determine how frequent flyer miles and rewards program points are to be valued and divided. Programs that assign a dollar value equivalent to their points make negotiating a settlement easier. If no dollar value equivalent is assigned to the rewards program points, a value can be assigned based on the value of the item the points can purchase.
Establishing a complete and fair divorce settlement requires a comprehensive analysis and valuation of all marital assets. Maintaining a detached, business-like approach to the division of assets is an important part of the process because making decisions based on emotional attachments to property can mean that a spouse may walk away from higher-valued assets in favor of a sentimental item cherished by the other spouse. A divorce attorney may be able to help make practical decisions regarding the division of marital assets and may be able to help a divorcing spouse receive a fair divorce settlement.
Source: Forbes, “Divorce: Who Gets The Air Miles?“, Jeff Landers, June 26, 2013
