An Iowa postnuptial agreement is a legal document that defines the rights and responsibilities of the two spouses in connection with their individual and marital property.
The main difference between a postnuptial and prenuptial agreement is the moment parties can sign the document. With the prenup agreement, the parties sign the document before they enter the marriage, while with the postnup agreement, they do it after they enter the marriage.
The parties should always consider making a postnuptial agreement since it will outline all of their rights and responsibilities during and after the marriage and prevent potential misunderstandings and disputes between the spouses.
Laws and Legal Requirements for a Postnuptial Agreement in Iowa
The laws and legal requirements for a postnuptial agreement in Iowa are all outlined in a few provisions of the state law, as well as in the court decisions issued by the local courts. The main reason for this is the fact that Iowa hasn't adopted the Uniform Marital Agreement Act.
Section 598.21(5) of the Iowa Code provides that the court shall divide all property, except inherited property or gifts received or expected by one party, equitably between the parties after considering any written agreement made by the parties concerning property distribution.
Signing Requirements for a Postnuptial Agreement in Iowa
The Iowa postnuptial agreement must be issued in written form. Moreover, the state requires both parties to the postnuptial agreement to sign the document.
Although the state law doesn't require the notarization of the postnuptial agreement, the parties should still consider completing this step. This will additionally confirm the authenticity of the document and prevent potential fraudulent activities. The notary public will identify both spouses and confirm that they have personally signed the agreement.
Postnuptial Agreement Enforcement in Iowa
The court will declare the Iowa postnuptial agreement form unenforceable if one of the spouses proves that:
Postnuptial Agreement Enforcement Conditions
They have signed the postnuptial agreement against their will
The other party failed to present complete and truthful information about their financial status at the moment of signing the postnuptial agreement
They didn't or couldn't have knowledge about the other party's financial status at the moment of signing the postnuptial agreement form
What Can a Postnuptial Agreement in Iowa Cover?
The postnuptial agreement in Iowa can cover multiple matters in connection with the spouses' financial and non-financial relationships. However, when drafting the postnup agreement, the parties must make sure all of the provisions are in line with state laws and public policy.
In this section, you can see some of the matters that are most commonly included in the postnuptial agreement template:
Provisions in a Postnuptial Agreement
Rights and obligations connected with the parties' individual and marital property
Right to sell, buy, lease, transfer, mortgage, or manage the property acquired during the marriage
Rules on how marital property will be divided in case of marriage dissolution, divorce, death, or any similar event
Matters connected with spousal support, insurance, pension, wills, trusts, and more
Choice of law for interpretation of the Iowa postnuptial agreement
However, there are some provisions that cannot be included in the Iowa postnuptial agreement template, such as ones that regulate child support. This cannot be regulated in the postnuptial agreement since this matter is in the exclusive jurisdiction of the court.
Postnuptial Agreement in Iowa: Validity Criteria
The first validity criterion is connected with the formality requirements set by the state law. This means that the Iowa postnuptial agreement will not be valid if it doesn't have a written form and isn’t signed by both spouses.
In addition, the validity of the postnuptial agreement is also connected to the existence of the marriage. The parties can sign the postnuptial agreement only after they have entered the marriage. From that point on, spouses can make multiple postnuptial agreements to regulate their relationship.