I'm not a lawyer, nor have I ever been divorced, but based on the experience of others, if it's an asset that can be divided (such as money in a bank account), you must split it. If it's an asset that can't be divided (such as a house), one party must pay the other an amount equal to 50% of the value.
If you've managed to convince her lawyer that FF miles are a non-divideable asset, you have definitely won. Or, if you've convinced your soon-to-be ex-wife that she doesn't want half of a divideable asset (for example, she may not want half of your herd of cattle), you've won too. If you've convinced both of them that the entire account is only worth $2, good for you. In theory, they could assign the value of a round-trip ticket (say, $400) to every 50,000 miles in the account.
BTW - you should definitely check with your lawyer. Even if it costs money to do so.
Last edited by quartermoon; Jun 11, 2010 at 7:54 am
Reason: Added info