If you are planning to end your marriage, you have undoubtedly given some thought to dividing marital assets. In Texas, spouses typically have an equal interest in the marital estate. Your marital estate, of course, probably includes everything you and your spouse acquired during your marriage.
Airline miles can be easy to overlook during settlement negotiations. Still, if you and your spouse have traveled frequently during your marriage, your airline miles may be quite valuable. Like other pieces of marital property, airline miles are divisible during your divorce.
Do you know how much your miles are worth?
Before attempting to deal with your marital airline miles, you likely want to determine their value. Regrettably, valuing airline miles is not necessarily an easy task, as airlines often expressly state their miles have no cash equivalent. For divorce planning purposes, you can assume your miles are worth approximately 1.3 cents each, although your miles may be worth considerably more or even a bit less.
Does your airline allow you to transfer miles?
While it may be enticing to add marital miles together and divide down the middle, doing so may not be possible. After all, many airlines prohibit the transfer of miles. If your airline does not allow you to transfer miles to someone else, you may have to be creative to reach a reasonable settlement. This may involve negotiating a usage agreement or giving up other assets in exchange for the miles that are already in your name.
Ultimately, while it may seem nitpicky, including your airline miles in your divorce settlement ensures you receive exactly what you deserve under Texas law.