Iowa Prenuptial Agreements

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In Iowa, premarital, or prenuptial, agreements are protected under the Iowa Uniform Premarital Agreement Act . In order for the agreement to be valid, it needs to be in writing and signed by both prospective spouses. Both parties involved are responsible for executing all documents necessary to implement the agreement. 

 

Premarital agreements can cover the following items:

a. The rights and obligations with regard to property – whether it is owned by an individual prior to the marriage, acquired by an individual during the marriage, or either owned or acquired by the couple

b. The right to buy, sell, use, transfer, exchange, abandon, lease, rent, renovate, or otherwise be involved with the control of the property

c. How the property will be handled in the event of the couple separating, the marriage being dissolved, there being a death, or the occurrence or nonoccurrence of any other event

d. The making of a will, trust, or other arrangement to carry out the provisions of the agreement

e. How the couple will handle a life insurance policy

f. The choice of law governing the construction of the agreement

g. Any other matter not in violation of public policy or statute imposing a criminal penalty

 

Additionally, Iowa law requires that none of the provisions made in individual prenuptial agreements violate the right of a spouse or child to receive support following a divorce or dissolution of the marriage. 

 

In Iowa, a prenuptial agreement can be revoked if both spouses submit a written, signed agreement saying they would like to do so. Or, if one of the spouses wishes to dissolve the agreement without the consent of the other spouse, he or she needs to prove one or more of the following: the prenuptial agreement was not agreed to voluntarily, the agreement placed undue burden on one or both of the spouses (or was “unconscionable”) when it was executed, and there wasn't a reasonable disclosure of the property or financial obligations of the other spouse.

 

If any of these stipulations can be proven, the prenuptial agreement will be deemed unenforceable in the event of a divorce or dissolution of the marriage. 

 

One of the most common reasons that a prenuptial agreement is thrown out when it goes to court is its failure to claim all of the spouses' assets at the time of its signing. For this reason, you may choose to include a statement listing all of your assets along with the agreement so as to ensure that each person has fully disclosed all of their property or assets of value. Property may extend beyond that of housing and land to include things like jewelry, artwork, paintings, etc.