Full question:
Does a prenuptual agreement protect assets gained during the marriage? For example: If I am worth 10 million now, but I make 30 million during the marriage will my partner be entitled to half of the 30 million or will the prenuptual protect what I make during that time?
- Category: Marriage
- Subcategory: Premarital Agreements
- Date:
- State: National
Answer:
Prenuptial agreements can define how assets are handled during and after marriage. In Iowa, the Uniform Premarital Agreement Act allows couples to decide how property will be divided in case of separation, divorce, or other events. A prenuptial agreement can protect assets acquired during marriage, including income earned. However, it’s important to note that agreements regarding child custody and support are generally not enforceable, as courts prioritize the child's best interests. Additionally, waiving spousal support may not be upheld if it leaves one spouse without means of support.
For a prenuptial agreement to be enforceable, it must be executed voluntarily and not be unconscionable at the time of signing. If one party can prove they did not receive fair disclosure of the other party's finances, did not waive their right to this disclosure, and lacked adequate knowledge of the other party's financial situation, the agreement may not be enforceable.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.