A prenuptial agreement is a document that sets the conditions for property in case a marriage doesn’t last. Both parties negotiate the terms, and the paper is signed well before the wedding. It has to be a fair agreement based on complete disclosure by both parties.
There are several things to consider when you’re creating a prenuptial agreement:
- It must be signed by both parties without any coercion
- It should consider things like property and assets that were accrued before the marriage and any expected inheritances
- It should also discuss spousal debts and whether there will be any financial support for one spouse if the marriage ends.
Prenuptial agreements aren’t negative
One thing to remember is that a prenuptial agreement shouldn’t ever be viewed as a prediction of the marriage ending. Instead, this is a tool that you can use to ensure that you and your betrothed are on the same page about financial matters. It sets out a clear outline of what’s coming into the marriage with which party and how you will view it if the marriage doesn’t last forever.
When a prenuptial agreement overly favors one person, the court may throw it out. You also must ensure that both people have ample time to review the terms. This means you can’t spring up the prenup just before the wedding.
Discussing your situation with someone familiar with Iowa laws is beneficial, so you can ensure the premarital agreement is set correctly. This can provide you and your future spouse the protection each party needs.