Iron(II) sulfate (ferrous sulfate) is a salt that, in an aqueous solution, dissolves and yields $\ce{Fe^{2+}(aq)}$ and $\ce{SO4^{2-}(aq)}$. It then decomposes to ferric sulfate shortly thereafter.
But what happens to the iron(III) sulfate (ferric sulfate) in solution? Is the $\ce{Fe_2(SO_4)_3}$ compound preserved?