Dividing Frequent Flyer Miles, Credit Card Points, and Digital Assets
When divorcing couples think of assets, they typically picture homes, cars, retirement accounts, and bank balances. But in today’s modern world, less tangible assets like frequent flyer miles, credit card reward points, and digital property are increasingly part of the equation. Being familiar with how these items are handled can help you protect what’s rightfully yours. Bring your questions and concerns to the attention of a West Palm Beach family attorney.
Florida’s Approach to Property Division
An equitable distribution state, marital property is divided fairly between spouses, though not necessarily equally, in the state of FL. In general, any assets acquired during the marriage are considered marital property. This includes items such as frequent flyer miles, credit card rewards, cryptocurrency holdings, digital photo libraries, eBooks, and streaming rights. Determining how to divide these types of assets often depends on their value and how easily they can be accessed or transferred.
Reward programs are usually tied to one person’s name, but if the points or miles were accumulated during the marriage (especially through joint purchases or travel) they may be considered marital property. Challenges include that some programs prohibit transfers to another person and that the value of these rewards can be subjective and variable. Redemption restrictions may apply too, making a direct split difficult.
Thankfully, there are solutions. For starters, it may be possible to offset the value of miles/points with another asset. In other situations, couples agree to a shared usage arrangement post-divorce or redeem and divide benefits before the divorce is finalized. It’s important to check the terms and conditions of the specific program, as well as consult with a lawyer familiar with Florida family law.
Online Property and Digital Assets
Digital property can range from streaming service subscriptions to investment in cryptocurrency or online businesses. These assets can carry significant value, even if they don’t come with a physical presence.
Common digital assets include:
- Cryptocurrency wallets (Bitcoin, Ethereum, etc.)
- Monetized YouTube or TikTok accounts
- Online storefronts (e.g., Etsy, Shopify)
- Non-fungible tokens (NFTs)
- Social media accounts tied to a business or personal brand
Dividing these assets may involve an appraisal by a digital asset expert and agreements on shared control. Converting digital assets to cash value for equal distribution could be another option to pursue.
Rewards-based assets are easy to overlook but can have real financial impacts. Without proper legal representation, one spouse may walk away with more than their fair share. A skilled West Palm Beach family attorney can help you identify all nontraditional assets and negotiate fair settlements, even with complex or restricted assets.
As technology evolves, so does the nature of divorce settlements. Whether you’re concerned about your airline miles, your crypto wallet, or your points balance, it’s essential to handle these assets with the same seriousness as any other property.
Could nontraditional assets complicate your asset division process? For guidance tailored to your situation, have a conversation with the trusted family lawyers at Bruce S. Rosenwater & Associates. Schedule a confidential consultation today.
