When you create an estate plan, you will likely focus on your home, investments and bank accounts. However, loyalty rewards and private memberships can also hold financial value. While these benefits may not always transfer to heirs, identifying them as part of your estate records can reduce confusion during estate administration and help your family determine whether any value remains available.
Which rewards and memberships can have value?
Many rewards programs and memberships accumulate value over time. Examples include:
- Airline frequent flyer miles
- Hotel loyalty points
- Credit card rewards
- Country club or golf club memberships
- Yacht club or vacation club memberships
Each program sets its own rules. Depending on the terms, rewards or membership rights may expire at death, remain available to an estate or transfer to an eligible beneficiary.
Why these assets are easy to miss
Unlike real estate or investment accounts, rewards programs and private memberships may not appear on a traditional asset list. Family members or a personal representative may not know the accounts exist. As a result, valuable benefits or contractual rights may go unclaimed.
Some private memberships may also include refundable deposits, equity interests or other financial rights that become part of an estate.
How these assets fit into estate planning
Estate planning can account for more than tangible property. Records of loyalty programs and memberships can help identify accounts and document the terms that govern them. Those records may also help a personal representative determine whether any remaining value belongs to the estate or an eligible beneficiary.
Addressing these assets alongside other property creates a more complete estate inventory and can make estate administration more efficient.
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