Like most states, Iowa is an equitable distribution state. In the event of a divorce or legal separation, judges distribute all marital assets fairly but not always equally between the spouses. Iowa courts consider a number of factors during property distribution unless a couple already has a settlement or prenuptial agreement.
A few states are community property states. In those states, courts divide property 50/50 between couples during divorce cases. The laws in each state differ about property division during divorce. You can find additional articles and resources in FindLaw's section on Divorce and Property.
Marital property may be important during probate as well. If one spouse dies without a will, the other spouse receives at least one-half of the marital estate and the decedent's separate property. (Iowa Code §633.211)
Note: State laws are subject to change through the passage of new legislation, court rulings (including federal decisions), ballot initiatives, and other means. FindLaw strives to provide the most current information available. You should always consult an attorney or conduct your own legal research to verify the state law(s) before making any legal decisions.
Marital Property vs. Separate Property
Marital property is all property acquired during the marriage. In Iowa, marital property includes:
- Wages and income earned during the marriage by both spouses
- Retirement accounts and bonuses
- Property purchased with marital earnings or with separate earnings and used as a marital asset
Separate property includes anything owned or acquired before the marriage, as well as inheritances and "gifts received or expected by one party" during the marriage. During the divorce process, a spouse must show that they received a gift or inheritance and kept it separate from the marital estate.
Iowa Marital Property Laws
A couple may write their own separation agreement and divide their property as they wish during their divorce. A judge only steps in when a couple cannot come to an agreement or if the asset division is grossly unfair to one partner. A judge may consider any or all of the following factors:
- The age and health of the spouses
- The length of the marriage
- The current and future earning capacity of each spouse
- Whether one party delayed entry to the workforce to support the other party's education or employment. The judge can give an approximate comparative value to homemaking and child-rearing as well as employment
- Alimony and child support payments
- Time needed for the lower-income partner to become self-supporting
- The need to award the family home to the partner awarded primary physical custody of any minor children
- Other economic circumstances, including tax consequences to both parties
Iowa law does not require an equal division of marital property during the divorce proceedings. If an unequal division serves the interests of all parties, then that will be the final divorce decree.
Talk With a Family Law Attorney
Divorce and property issues can be emotionally and legally complex. To better understand your options, you should seek legal advice from an Iowa divorce attorney.