Like those assets referenced in our recent newsletter article on Dealing with Digital Assets, a recent article in The Globe and Mail identifies a non-tangible asset that may be forgotten in estate planning or administration: loyalty points.
These days, we can earn loyalty points on almost every purchase, although those points may expire if not used within a certain period of time. If your wallet is anything like mine, it is overflowing with loyalty cards for the drugstore, the grocery store, the gas station, an airline, and more. The Globe and Mail article lists various online tracking programs to help you keep track of your points. This may work well during your lifetime, but you must not forget to include your loyalty program particulars either in your Will or in a memorandum left for your Executor.