San Antonio, TX Estate Planning

Want to Pass on Frequent Flyer Miles? Better Put That in Your Estate Plan!

Along with all the other paperwork that comes with being newly widowed, Roberta Bekerman had to persuade Delta Air Lines that she was entitled to inherit her husband’s frequent-flier miles. The company’s policy says that its SkyMiles, as they are called, may not be transferred “under any circumstances,” including death. But Ms. Bekerman, whose husband was a trust and estate lawyer, asked them to make an exception.

Wouldn’t it be nice to inherit some travel points? Just think of all the unused frequent flyer miles out there! But if you take the time to read the terms and conditions of most frequent flier, hotel reward, and credit card loyalty programs, you will find that they prohibit the transfer of accumulated points to another person, including when the program participant passes away.

However, the actual policy of most companies is to allow their employees some flexibility whether to allow transfer of points after death.

That means that when asked employees can transfer the points to an heir's account, as reported by the New York Times in an article titled "Loyalty Program Rules Aren't Ironclad."

If something can be transferred after death, then you should make it a part of your estate plan.

That is the best way to make sure that the assets go to the person or persons you want them to.

However, because loyalty programs are usually only transferrable based on the grace of the company, your estate plan should probably not rely on them for balance. In other words, it might not be a great idea to give one person less money because you are leaving them your frequent flier miles.

If the company refuses to transfer the miles, that could lead to problems.

It’s important to have your estate documents reviewed by a professional with your best interest in mind. Contact us today to set up an appointment to review your current plan.

Reference: New York Times (May 6, 2015) "Loyalty Program Rules Aren't Ironclad."

Bartender - How About a Round of Drinks for My Heirs?

A dying man left money in his will as a surprise for his best mates, so they could go on a boozy holiday together.

Roger Brown of Swansea, England recently died of prostate cancer at the age of 67. It came as a surprise to his friends that Brown left them a small sum of money with directions that they use it to go on a trip together to a European city and have drinks there on him.

You see, Brown had visited the same pub for over 40 years and drank there with the same group of people.

They all became close friends.

The Daily Star reported the story in an article titled "Cheers: Dead man buys last round for best mates by leaving surprise money in his will."

This small bequest was perfectly tailored for what the men did together.

It gave an appropriate way for Brown's friends to remember him.

You could do something similar in your estate plan by leaving something to people that you are close to. That does not mean that you have to leave your friends money to buy beer. You should leave something appropriate for what you and your friends do together.

When making your estate plan, keep in mind that you do not have to just give everything to your family. You can also give small sums to others who have touched your life.

It's never too early to protect you and your heirs. Click here to read more about what is involved with setting up your estate plan.

Reference: Daily Star (May 6, 2015) "Cheers: Dead man buys last round for best mates by leaving surprise money in his will."

Busted! Will Forgery Suspect Arrested

A Walnut Ridge woman was arrested Thursday for forging a will after someone else had died.

KAIT reported the story in an article titled "Woman arrested for forging new will after someone died."

An Arkansas woman, Kimberly Dement Dotson, has been arrested for allegedly forging the will of an elderly person.

She is believed to have forged the will after the victim passed away.

Naturally, the will stated that she should receive the entire estate.

Dotson told the court that the victim had no living relatives, which was not true. She also stands accused of using the man's debit card and withdrawing money from his bank account for her own personal use.

This is the latest incident of something that happens all too often.

It is very important that family members remain diligent and ensure that someone is not taking advantage of their elderly relatives.

If a relative passes away, it is also important to act quickly when filing wills with the court so that anyone who forges a different will can be caught before too much damage is done.

To learn more about protecting yourself and your elderly relatives, speak with an experienced estate planning (or elder law attorney) about what you can do.

For more information about estate planning in San Antonio, Texas and the surrounding areas click here to contact us.

Reference: KAIT, Region 8 Newsdesk (May 9, 2015) "Woman arrested for forging new will after someone died."