By: Daniel M. Copeland, Attorney at Law, P.A.

Most couples in Florida who are getting a divorce will discover that almost every negotiation they enter into involves money. The divorce mediation process is all about discovering the most fair division of assets so that each party can walk away feeling satisfied with the divorce settlement. Some assets, however, are more difficult to assign a value to than others. Many couples may be surprised when they realize the value of some assets that they might have otherwise have taken for granted.

Airline miles and points for hotel stays, for instance, can represent a large amount of money for couples who travel frequently. Free hotel stays or tickets to travel first class on a flight may be available to couples who have accumulated a large total of miles. These points or miles are often considered as marital assets in the event of a divorce.

Some accounts will allow the couple to split the rewards points into two accounts, one for each spouse. Other rewards programs will not allow transfers. Couples who have accumulated points, therefore, should read the conditions and terms of their rewards program to know which of the programs will allow them to transfer some of their points to the other party.

The accounts which will not allow points transfers must, as a part of the negotiation process, be assigned a monetary value. The way in which this is done can be determined as part of the divorce mediation process. Other non-monetary assets will also have to be identified, their value determined, and divided in order for the settlement to be an equitable one for both parties.

Source: forbes.com, "Divorce: Who Gets The Air Miles?" Jeff Landers, June 26, 2013