September 27, 2013. Premarital agreements, commonly referred to as prenuptial agreements, are tools couples can use to protect assets for various reasons. One or both of the parties may have children from a previous relationship and want to protect assets intended for those children. A party may have significant property such as land that has been in the family for years. Whatever the reason is, a premarital agreement is a fairly easy document to be prepared.
Iowa law requires the agreement to be voluntary between the couple. The law also requires full disclosure of assets and liabilities. The agreement must be in writing and becomes effective at the time of marriage. Each party should have their own representation.
The premarital agree can contract property rights during marriage, disposition of property upon separation, dissolution or death, rights in probate, and any other matter not violating public policy or criminal laws. Limitations include: waiving child support of a future child and alimony. For more information regarding premarital agreements and family law, email the Goosmann Law Firm at info@goosmannlaw.com or call 712.226.4000.