Following is an article that appeared in our local paper over the weekend relating to divorce and mileage that one spouse may have. I found it interesting and wondered if anyone had an actual experience that they wanted to share or an opinion that differed from the article.


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FLYING SOLO
JAN WARNER AND JAN COLLINS

In a divorce, don't overlook assets like airline miles and hotel points

KNIGHT RIDDER NEWS SERVICE

December 6, 2003


QUESTION: My husband and I are in the midst of a nasty divorce after 25-plus years of marriage. Since our only child is self-sufficient, all that's left are arguments about money and property division.

Since we got married, my husband has been with the same company and travels all over the world. Our standard of living included trips paid for by the company as bonuses for production, and we went away on a nice trip at least once a year. My husband has stockpiled frequent flier points, and because his company always sends him first class, he has more than a million miles on two separate airlines. He also has sports tickets and club privileges to professional football and basketball games in our area, hundreds of thousands of credit card bonus points, access to the company gym, etc.

My lawyer has told me that these things don't count and that it would be a waste of time and money to try to value them. I don't know if I agree with her because they have been acquired during our marriage and are part of our standard of living. I am asking whether I should pursue these "perks" or let them go.
ANSWER: While the final decision belongs to you and your lawyer, we believe that based on the facts you have described, "there's gold in them thar hills."

At the annual meeting of the American Academy of Matrimonial Lawyers, Leonard Karp, a matrimonial lawyer from Tucson, Ariz., made a presentation about identifying unusual, overlooked, and exotic assets. Here are some of the items he identified:

Frequent flier miles, credit card reward points and hotel reward points; security deposits for utilities and telephone; future interests in property (such as remainder interests that can be valued based upon actuarial tables); leased property such as time shares and vehicles; stock options; early retirement benefits; non-vested deferred compensation plans; unused vacation and sick leave that has been accumulated and is paid at the time of retirement; pending income-tax refunds and overpayments of taxes; net operating loss and capital loss carryforwards, and charitable contribution carryforwards that can be used in subsequent years; intellectual properties such as trademarks, patents, copyrights, and contracts for royalties; governmental marketable licenses (such as radio licenses, fishing quotas, etc.); "golden parachutes"; hobby collections (such as Lionel train sets, etc.); future credit against the purchase price of the same product; retirement survivor benefits; sperm and/or unfertilized human eggs; contract rights; country club and other memberships that can be transferred; warranties; licenses and other rights to purchase sporting and entertainment tickets; lottery tickets; information databases; goodwill and celebrity goodwill; and reimbursement considerations with regard to premarital and post-marital agreements.

While a few thousand frequent flier miles may not be worth pursuing, millions of miles and millions of credit card and hotel "usage points" probably are.

When it comes to country club memberships and the like, prior sales or transfers might give you the information you need.

Jan Collins is a writer and editor. Jan Warner is a matrimonial, tax and elder-law attorney. Both are based in Columbia, S.C.