A Cohabitation Agreement is made between a couple who choose to live together and choose not to marry. Cohabiting couples have no such rights as those who are married, regardless of the number of years they have been together and whether they have children.
A cohabitation agreement protects the rights of both parties. It can set out the financial aspects of the relationship. You can set out who owns what and in what proportion and lets you document how you will manage your day to day finances, how you will split your property, its contents, personal belongings, savings and other assets should the relationship break down. It can also cover how much maintenance you will pay for the children.