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Katie Michelson, a partner at Biermann LLP specializing in matrimonial law, discusses prenuptial agreements. She addresses the misconception that these agreements are only for the wealthy. Many clients, regardless of their financial status, seek prenuptial agreements to plan for potential divorce or death. Michelson clarifies that individuals do not need substantial assets or income to enter into a prenuptial agreement. Such agreements allow individuals to control how their assets and income are distributed in the event of divorce or death. The complexity of prenuptial agreements varies; they can range from simple to extensive documents, depending on individual preferences.
