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Katie Michelson, a partner at Biermann LLP specializing in matrimonial law, discusses prenuptial agreements. She clarifies the misconception that these agreements are only for the wealthy; in fact, many clients seek them to pre-plan for potential divorce or untimely death. She emphasizes that individuals do not need substantial assets or income to enter a prenuptial agreement. Instead, these agreements provide a way for individuals to have control over the allocation of assets and income in such situations. Prenuptial agreements can vary widely in complexity, ranging from simple documents to detailed, lengthy contracts.