What happens to my frequent flyer miles when I die? This is a common question that we hear from clients when we are assisting them with their estate planning.
Frequent Flyer miles and other reward points can be valuable resources. Many credit card companies give tens of thousands of miles or points for opening an account and then give miles or points for each purchase. The typical frequent flyer mile is worth 1.5 cents. While this may not sound like much, a balance of 100,000 miles would be worth $1,500. It’s not uncommon for people to have hundreds of thousands or more miles or points in different programs for airlines, hotels, and more. What happens to these miles when you die? Do they expire or can you include them in your estate planning so you can pass them on to loved ones?
Watch this brief video to learn more about how you can incorporate your frequent flyer miles into your planning.