The opening sequence to the film “Wedding Crashers” has a divorce attorney proceeding discussing splitting of frequent flyer miles as an asset. I am not sure if this is realistic, since even though FF have a value, they cannot be resold on the open market due to terms and conditions of most programs. It would be like virtual currency in an online video game. It has value and people do buy/sell them, but they violate the TOS and accounts can be banned for doing so if caught.
With respect to creditors, has there been any cases where a creditor has gone after someone for their FF points? And if so, how does the credit expect to get “paid” if the program doesn’t allow transfers?
I love the asset protection idea of “own nothing, control everything” and I wonder if FF points can be one small piece of that strategy. I know many “road warriors” that travel professionally for years and have saved up 1M+ points. It could be possible to have enough points to do 2 or 3 domestic trips per year, until you die, depending on how much the points values are susceptible to inflationary pressures over time.
If these are an asset that cannot be seized, I find it interesting to have enough FF points for hotels and airlines that would let you do 1 to 2 vacations for free every year until you die.