A cordless electric iron assembly has an iron removably mounted on a power supply stand adapted to be connected to a power supply. Separable mating electric terminals interposed between the iron and stand establish an electrical connection between the electric heater in the iron and the stand so long as the iron is placed on the stand. A detector on the stand detects the presence or absence of the iron on the stand and is used to activate an adjustable counter in response to removal of the iron from the stand. The counter activates an audible alarm after the elapse of a predetermined time period during which the iron is removed from the stand and in use to signal that the iron should be returned to the stand for reheating. A carrying case is detachable from the stand and accommodates the iron positioned on the stand with the mating terminals connected for storage of the iron during non-use.