When parties are going through a divorce, all marital property and debt has to be divided when considering all the relevant factors in states where equitable distribution is the law.
From the house, to the cars, to the retirement accounts, the debt and everything else that has been accumulated during marriage, it all has to be divided.
One often overlooked piece of marital property is the travel rewards or credit card points. In some cases, this can actually become a contested issue.
In the scheme of things, the value of those travel rewards or credit card points can be minimal. But, for some, this might be an item that is important to them.
Maybe the party to the divorce travels a great deal? Maybe the party to the divorce incurred the charges, or made the credit card payments, and feels they should get them?
In the end, if the travel rewards or credit card points were earned during marriage, they would generally be considered marital property. But that is not the end of the analysis.
A court would then have to consider who they are just to award them. And, in some instances, maybe the court tries to divide them in half or in some other ratio. But diving credit card or reward points can be difficult because many companies will be unwilling or unable to implement that.
That makes an offset another possibility. In other words, maybe one party gets them, but the other party gets another item of marital property in exchange. But, in those instances, the question is what the credit card or travel award points are worth?
In some cases, a party might actually need to have the valuated. In other cases, the cost of doing that might easily exceed the value. This is what can make an offset difficult in some cases.
Either way, if you are going through a divorce where credit card or travel reward points are an important issue, it’s important to have an attorney guide you through the process.
If you need a divorce lawyer where credit card or travel reward points are an issue, Stange Law Firm, PC can help. You can call us at 1-855-805-0595.