Iowa Code Section 598.21(5)(l) recognizes that parties are free to enter an agreement prior to the marriage controlling how premarital assets are to be divided in the event of a subsequent divorce. For this reason, Iowa law does not automatically set aside or give credit to a party for the assets brought into the marriage. See In re Marriage of Miller, 552 N.W.2d 460, 465 (Iowa Ct. App. 1996). If you need help drafting a premarital agreement, contact me today.
Division of Pension and Retirement Plans.Retirement and pension plans are considered marital assets subject to division in dissolution cases. See Iowa Code Section 598.21(5)(i). In order for the court’s division of pension benefits to bind the employer, a separate Qualified Domestic Relations Order must be entered by the court. The requirements of a QDRO are technical and require the skills of an experienced dissolution attorney.