You spend, you save, and when possible you take advantage of loyalty benefits such as Air Miles and Aeroplan Miles to help with the family budget. In fact, many people have built up many reward miles and they often have significant value. But have you considered what happens to your Air Miles and Aeroplan Miles in the event you pass away?

Loyalty benefits such as these are as good as cash; therefore the same amount of diligence is warranted here as with money in the bank when it comes to your estate. So why not make sure your points don’t die with you? Perhaps a more important consideration is making sure your family members do not argue over who should inherit your points upon death, or incur unnecessary legal fees and time just to transfer your points after death – a task that is made easier by having a will in place. Therefore, in order to avoid any disputes concerning who is to receive your loyalty benefits and to avoid the necessity of any valuation in the event they are not specifically gifted, you should include a specific gift in your will.

Each rewards program has its own rules concerning whether they can be specifically given away on death and to whom, and whether they can be dealt with by the executors of your estate if your points are not specifically given away in your will. Most plans do not, however, allow for an exchange of points for money.

Air Miles

According to the Air Miles website at the time of writing, you may gift your Air Miles to another collector of Air Miles. At the date of writing, the cost to transfer Air Miles to another collector is $0.15 per mile. However, Air Miles does not charge a fee for transferring Air Miles in instances where a Collector has passed away.¹

Aeroplan

According to the Aeroplan website at the time of writing, you may transfer your Aeroplan Miles upon death.

Taking Care of Your Heir Miles

You may direct the transfer of your Air Miles and Aeroplan Miles in your will. You should indicate the number of reward miles that are to be transferred to different recipients, or specify that the total amount at the date of death is to be transferred to a single person. You should also include the name and account number of the account to which reward miles are to be transferred.

Speak to your lawyer about gifting your Air Miles, Aeroplan Miles or other rewards benefits to make sure your gift has legal effect.

We would be pleased to assist!

Dylan McGuinty Jr.
613-526-3858
dylanjr@mcguintylaw.ca