Loyalty points - every little helps!


Following a death one of the main tasks for executors is to establish the assets of the deceased’s estate and value those assets. Most executors will have no trouble with conventional assets - bank accounts, investments, property etc... but what about the less conventional assets?

A large number of individuals will have loyalty accounts and store cards which will have accumulated points over time. Those points have a value but are often forgotten about on death. This may be because the values involved are minimal, or the executors/family simply aren’t aware of the account, or aren’t sure whether the value of these accounts are transferable. However, it raises the question, what else is out there that may be overlooked?

I have dealt with an estate containing valuable air miles which had significant value and which the family almost overlooked. It was only by chance that the family mentioned the air miles and we were eventually able to transfer them across to a very grateful family member who travelled a lot.

With the rise of digital assets it is possible that we will see an increase in unclaimed assets and the inevitable growth of companies looking to reunite individuals with these assets, for a fee of course.

My advice - keep a record of otherwise undocumented assets and as an executor be thorough in your investigations. You never know what you may uncover!

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When a loved one passes away, or indeed when we might be planning for own our final years, few of us will likely be thinking about loyalty points. However, with data from Topcashback showing that Brits rack up £5.7bn through loyalty schemes annually – working out to £122 per person over an average of five schemes – the points accumulated through a lifetime of faithful shopping could be a valuable addition to an estate.
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