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Katie Michelson, a partner at Biermann LLP specializing in domestic relations and matrimonial law, discusses prenuptial agreements. She addresses the common misconception that these agreements are exclusively for the wealthy, stating that many clients seek them to plan for potential divorce or untimely death. Michelle clarifies that individuals do not need significant assets or income to establish a prenuptial agreement; rather, these contracts provide a way for individuals to control the allocation of their assets and income in the event of a divorce or death. She notes that prenuptial agreements can vary greatly in complexity, ranging from lengthy documents to simpler versions.
