The bill amends Iowa's probate law and premarital agreement regulations. It introduces a new requirement for property holders to notify named beneficiaries and charitable organizations of a deceased owner's property rights within ten business days of being informed of the owner's death. This includes providing contact information for the property holder. Additionally, it establishes a process for beneficiaries to present affidavits to claim property, detailing the necessary information and protections for the holder of the property against liability when acting on the affidavit. If the holder fails to comply, beneficiaries can pursue legal action within a year.

In terms of premarital agreements, the bill allows spouses to amend their agreements both before and after marriage, provided that any amendments are in writing and signed by both parties. It clarifies the conditions under which a premarital agreement or its amendments can be revoked and outlines the enforceability of such agreements. The amendments also specify that issues of unconscionability regarding these agreements will be determined by the court. The new provisions regarding premarital agreements will apply to proceedings initiated on or after July 1, 2025.

Statutes affected:
Reprinted: 633.358, 597.2, 596.7, 596.8, 596.9