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 and allows beneficiaries to present an affidavit to claim property or information. The bill also establishes protections for property holders who act in good faith based on the information provided in the affidavit, limiting their liability. Additionally, it outlines the process for beneficiaries to take legal action if property holders fail to comply with these requirements.

In terms of premarital agreements, the bill allows spouses to amend such agreements after marriage, provided the amendments are in writing and signed by both parties. It clarifies that any limitations on amending agreements must be adhered to, and it updates the conditions under which a premarital agreement or its amendments can be revoked or enforced. The bill also specifies 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