Can you split rewards points during a divorce?

On Behalf of | Jan 7, 2021 | Uncategorized |

Everything gets divided during a divorce in North Carolina, including your credit card points and airline miles. In some cases, you might be able to keep the points. But if you have to divide your points during a divorce, here’s how you can split your points with your former spouse.

How do you split rewards points during a divorce?

If you and your former spouse are still on good terms after your divorce, you might agree to keep your rewards points on one card but let both parties use the rewards. For example, you and your former spouse could use your airline miles to take separate vacations after your divorce. You could also use the points on joint activities like trips with your children.

In some situations, you might have no choice but to divide up the rewards points. Some cards allow you to open a new account and transfer the points to another person. However, you might have to pay a fee to transfer the points, so this option could actually cost you money in the long run.

If possible, you could exchange your rewards points or miles for gift cards that you can give to your former spouse. You and your former spouse might be able to use the points for other divorce-related expenses. As a last resort, you could always offer your former spouse an equivalent amount in cash. When it comes to miles, you can simply research how much it would cost to buy plane tickets instead of using your airline miles. Rewards points can be a little harder to value, but your attorney could help you make a fair offer.

Where do you start with asset division?

The asset division process can be so overwhelming that you don’t even know where to begin. When you hire an attorney, they could guide you through the process step-by-step so you can get a fair share of the marital assets. You might also have to divide up debts, liquidate your retirement fund and figure out if you want to sell your house after the divorce.