When a jet setter passes away with unused frequent flyer miles, what happens to such valuable assets? Are they transferred through probate to heirs or do they simply expire when the owner expires?
It depends on the airline policy. Most policies state that they cannot be transferred via a Last Will and Testament or pursuant to a divorce decree; however, some family members have found ways around it. While the written policy of most airlines favors the airline’s right to cancel the points, many have found that with the proper documentation some customer service agents will transfer the points (fee may be imposed).
It is helpful from a documentation standpoint if the will specifically designates the beneficiary who is to receive the points.
For more information on ascertaining your assets and ensuring the proper transfer upon death, contact Stouffer Legal at 443-470-3599.