Q: My husband worked as a consultant throughout our marriage, traveling extensively over the years. He is always allowed to keep all the miles and points. As a result, he has top-tier status with many hotel chains and airlines and has over a million AmEx points. I want him to buy me out. I believe this is a marital asset and we always plan to use all these benefits when we retire to travel the world together. Now she will take a trip that we often discuss with other women.
My attorney said I can’t force these companies to split the points and miles in half because it’s not their policy to do so. This seems to be unfair. How do I find someone to testify about the true value of this as an asset? I want my husband to buy me if they can’t share. This can not be the first time someone has tried to solve the benefits of these assets, right?
A: You are right – this is a valuable asset. However, finding qualified experts to put a dollar value on rewards is not easy. I have never used such an expert and do not know one. But there are other ways to address equalization.
American Express will allow him to open a new account (where he can add you as a cardholder) and have points transferred to that card. You can build an agreement in such a way that each of you must pay out your share of the use of the card on a monthly basis and you each get to use half of the points. You can even make it so that only certain types of items can be charged on the account such as travel and then you can use the points for upgrades for your travel.
He can also agree to use half of the Marriott points and various miles to book rooms and / or flights for you (and your companion) until you have used half of the points. He should share a copy of his statement for all his reward programs regularly so you can make sure you get the benefits you’re entitled to. This request will surely drive him crazy.
Therefore, I also recommend you research where you can go, stay, etc. at today’s rates using up to half of the accrued rewards. Then figure out how much it will cost you to take that trip without the reward of staying in the same level accommodations as flying with an upgraded seat. That way, if he doesn’t want to burden you with all the ongoing rewards, he can now agree to pay you the amount necessary for you to take all these trips. And, if a settlement is not reached, you have now done your research and can testify about the place you want to go with your other half and the actual cost.
Email questions to whickey@brickjones.com.
