Death and Frequent Flier Miles

Death and frequent flier miles.In our estate planning practice, we regularly discuss with our clients who they want to receive their assets.

At times, our clients will wonder whether their frequent flier miles can be inherited, and how they can go about transferring these miles to their loved ones after death.  The answer, as is often the case, is, “It depends.”

All airlines have their own rules related to transferring frequent flier miles after death.  Sometimes the transfer of frequent flier miles after death is precluded under the airline’s documentation, although there can be exceptions.  If a client desires to maintain and eventually attempt to transfer his or her airline miles to a loved one after death, we advise them to contact the airline to determine if this is possible and what procedures will be required to make this transfer.

Our experience has […]

Of Online Passwords, Regular Reviews, and Estate Planning

Keys hanging from doorWe have seen some reminders recently about letting your heirs know your passwords if you die – such as passwords for online banking.

We think the easiest way to do this is to write down your passwords and keep them in a safe place, preferably with your estate planning documents in a fire-proof safe.  What matters is that your heirs are able to find the passwords and use them if you pass away.

When you review your estate planning documents, make sure that your passwords are listed and updated along with the other estate planning documents.  We recommend an annual review of your documents to make sure that the specific fiduciaries you have chosen to act and the distribution of your assets remain consistent with your desires.

You could possibly do this every January 1, or on your birthday every […]