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Katie Michelson, a partner at Biermann LLP specializing in domestic relations and matrimonial law, discusses prenuptial agreements. She emphasizes the misconception that they are only for the wealthy, highlighting that many clients seek them to plan for potential divorce or untimely death. Michelson clarifies that individuals do not need to possess significant assets or income to pursue a prenuptial agreement. These agreements allow individuals to have greater control over asset and income distribution in the event of a divorce or death. The complexity of prenuptial agreements varies, with some being lengthy and detailed, while others can be relatively simple.