Question: I have about a million miles in my airline rewards program and want to leave them to my grandchild when I pass on. I'll never be able to use all of them during my lifetime. How do I arrange for this?
Answer: Many clients ask this question. Unfortunately, I cannot provide you with an ironclad answer. Generally speaking, the airline industry remains, shall we say, up in the air on this issue. Most carriers' official policies prohibit transfer of accumulated miles upon the account holder's death. That said, there seems to be some wiggle room; I am aware of several cases in which it's been done. Call your airline directly and make the request. Be persistent and prepared to call more than once: the answer may depend on who you happen to talk with on any given day.
But now let me ask you an important question: Why wait until you are gone? You can derive pleasure from seeing your grandchild travel (maybe even to visit you!) using your miles, right now. Most airlines will allow you to apply your miles to someone else's travel.
A final point: Do not be confused by the recently passed Florida digital assets law, which allows authorized fiduciaries to access digital assets, including airline rewards accounts. This simply lets your fiduciary manage the account - not necessarily transfer it or bequeath it to someone.
Joseph Karp, a member of the Florida and New York Bars, is a Nationally and Florida Bar Certified Elder Law Attorney and founder of The Karp Law Firm, located in Palm Beach and St. Lucie counties. The firm assists clients with wills, trusts, Medicaid and VA benefits planning, asset preservation, probate/trust administration and estate litigation.
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The Karp Law Firm, P.A.
Palm Beach Gardens (561) 625-1100
Boynton Beach (561) 752-4550
Port St. Lucie (772) 343-8411
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