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Katie Michelson, a partner at Biermann LLP, specializes in matrimonial law and discusses prenuptial agreements. She addresses the misconception that these agreements are only for the wealthy. In reality, many clients seek prenuptial agreements to plan for potential divorce or untimely death. She clarifies that individuals do not need substantial assets or income to create a premarital agreement. Instead, these agreements empower individuals to control the distribution of their assets and income in the event of a divorce or death. Prenuptial agreements can vary significantly in complexity, ranging from very detailed documents to simpler arrangements.