The question is, will it be the default agreement put together by strangers (state law, left up to interpretation and application by a judge), or will it be customized to the two of you?
The state prenuptial agreement is TERRIBLE for breadwinning men.
You might think "I don't really have much." Maybe not. But with hard work and smart moves, that'll change. Don't cheap out! If you "cant' afford a prenup," you can't afford a wife.
Guys, you should NOT be marrying at all, but if you are going to legally marry or even just cohabitate, you need a customized prenup, and you need to do it right. Judges have thrown out prenups. Here's how to minimize the risk of that happening.*
1. The agreement has to be signed and notarized/filed/whatever BEFORE a wedding date is set, before there's a pregnancy, and before you live together. You do not want her to later claim she was in any way pressured or coerced or signed under duress.
2. She will need her own attorney and so will you. The attorneys will go over the agreement before it is finalized.
3. Along with your attorney, line up a professional videographer and a (retired?) judge to go over the finalized agreement with both of you and your attorneys, signing and dating it on-camera. The judge should confirm your date, time, location, identities, that you are of sound mind, that you're entering into this agreement willingly (no wedding date has been set yet, etc.), that you have your attorneys present and that you are satisfied with them, that you understand English, and go over each clause of the agreement to explain what it means and whether or not you consent to it. The idea is to make it virtually impossible for the agreement to be challenged later by claiming there was pressure or that something was unfair or not understood.
4. Make sure you have discussed with your attorney how to keep the agreement in effect. Certain things you might otherwise say or do could end the effectiveness of the agreement, and you want to be sure to avoid that. Don't let her pressure you into doing those things!
The specifics of the agreement will be up to the law and what you two and your attorneys work out. She might ask for a sunset so that if she stays with you a certain number of years, the state's agreement comes into effect. Avoid that! All that does is give her a countdown. Things that might be in the agreement might include, but certainly not be limited to, access to financial accounts, the conditions of any joint accounts, provisions for insurance, what each of you owned and owed at the time you entered into the agreement, the process for amending or changing the agreement, who will pay for what, what happens if there is a separation/divorce/incapacitation/death, what will happen with property purchases and sales, etc.
You want to protect any property or assets you would be bringing into the marriage. Have your own business? Plan to start one? What if you create something like a work of art or a game? These are things that need to be considered.
If you own a home, you'll probably need her to sign a quitclaim deed and you'll probably have to refuse to allow her to "help" with paying for or maintaining it.
In most places, inheritance is NOT community property. If anyone is leaving anything to you, they should leave it only to you, NOT including her, and you should keep whatever you get separate. For example, if it's cash, it would go into an account she has nothing to do with.
If there is a divorce, you're not going to be able to get away with paying her nothing. You're going to have to pay her something, but if you spell out what in the agreement, it can be far less than what you'd have to if you went with the state default.
Again, you most likely shouldn't be marrying (or living together) in the first place. But if you're going to take that risk, mitigate it somewhat with a customized prenup. If she won't agree, DO NOT MARRY HER.
Keep in mind, having children provides an end-run around a prenup. She can get a court to order you to pay "child support" well above what it takes to raise the children. No man should be conceiving children unless he sincerely wants to be a father.
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