Estate Planning in Preparation for Marriage: Prenuptial Agreement vs. Irrevocable Trust

Getting married is generally a romantic event.  However, with more than 50% of marriages in the US ending up in divorce, it is crucial for a young, wealthy individual to consider premarital estate planning.  Many wealthy celebrities and entrepreneurs have blissfully entered into marriage only to come out losing significant amounts of their wealth.  For example, Rupert Murdoch paid divorce settlements of more than $1 billion each to two of his three ex-wives. Continue reading