Senate Study Bill 1093 



                                       SENATE FILE       
                                       BY  (PROPOSED COMMITTEE ON
                                            JUDICIARY BILL BY
                                            CHAIRPERSON KREIMAN)


    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to the consideration of inherited or gifted
  2    property in dissolution=of=marriage property division
  3    proceedings.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1826XC 82
  6 pf/es/88

PAG LIN



  1  1    Section 1.  Section 598.21, subsection 5, unnumbered
  1  2 paragraph 1, Code 2007, is amended to read as follows:
  1  3    The court shall divide all property, except inherited
  1  4 property or gifts received or expected by one party, equitably
  1  5 between the parties after considering all of the following:
  1  6    Sec. 2.  Section 598.21, subsection 5, paragraph i, Code
  1  7 2007, is amended to read as follows:
  1  8    i.  Other economic circumstances of each party, including
  1  9 pension benefits, vested or unvested, and future interests.
  1 10 Future interests may be considered, but expectancies and
  1 11 future interests arising from inherited or gifted property
  1 12 shall not be considered.
  1 13                           EXPLANATION
  1 14    This bill provides that in the division of property under a
  1 15 dissolution of marriage, in addition to the court not
  1 16 including inherited property or gifts received by one party,
  1 17 the court is not to include inherited or gifted property
  1 18 expected by one party.  Also, with regard to the consideration
  1 19 of future interests, the bill provides that expectancies and
  1 20 future interests arising from inherited or gifted property are
  1 21 not to be considered in the division of property.
  1 22 LSB 1826XC 82
  1 23 pf:rj/es/88