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Relationships

Mumsnet has not checked the qualifications of anyone posting here. If you need help urgently or expert advice, please see our domestic violence webguide and/or relationships webguide. Many Mumsnetters experiencing domestic abuse have found this thread helpful: Listen up, everybody

Money and new partner

449 replies

Mevawall · 06/10/2023 10:49

Hi all,

NC as I have friends who use MN.

To cut a long story short my husband and I separated around a year ago, it was my choice after many months of soul searching and realising there wasn’t a way back for us and whilst he felt shocked at first we’re amicable now and are in the process of divorcing properly, though currently still living together as finding a local property to rent right now is horrendous.
Neither of us have any shared financial obligations (house, car, loans etc) just two small children who we’ve always agreed we will share 50/50 custody, decisions and arrangements for so we don’t expect any formal financial arrangement for maintenance or set days and weeks.

The house is in my husbands name as it was a gift from his grandmother so I will be moving out, and I don’t want any money from it as it was a gift to him and will one day be our children’s inheritance. He has has agreed to give me a small sum of money after remortgaging the house to get started in a new home with, which is very nice of him and will come in handy for fees and deposits.

Now, I met a new partner about 8 months ago, we’re LD at the moment as he’s based in the States, but he is applying to move here for early next year.
He’s absolutely amazing, everything I have wanted in a life partner and he feels the same way. He’s just brilliant, and as he has no obligations tying his to the US has said he will move here happily which has made things decidedly easier.
Financially he earns a good salary, can work remote and has gotten permission to do so from his employer, so he’s just working out the legalities of working when coming to the U.K and the dual tax system. He’s just sold his home over there in preparation to coming here as well as his other belongings and is now just renting until his visa comes through.
Yes, it’s been a bit of a whirlwind romance, but we’re both very sure this is what we want going forwards. Not here looking for a “ITS ONLY BEEN 8 MONTHS!” As yes, I can count. 😂

Last week he told me he wants to open a joint account in the U.S and then eventually I can do the same here in the U.K when he arrives so I can access his money and pool mine, that way we can buy a house here rather than me renting for a year whilst all things settle.
In his eyes renting isn’t worth it when I can handle all of the legalities of paying for it outright here with the money from the sale of his house, and that way I don’t have to worry about having to move out if given notice before he arrives.
He also added that the joint account means he wouldn’t need to worry about transferring money to me in future for buying things such as furniture or paying for household repairs, as transferring money has been an issue previously when we were booking a holiday together and we had to jump through hoops with my bank to ensure the money arrived properly.

Am I going a bit mad to think this is crazy? We love one another, I really don’t care about how much money he has and certainly won’t be going on any spending sprees. We have also both discussed marrying in a year or so once my divorce is finalised so will end up us both sharing assets anyway then.
As long as my children have two happy homes, my ex and I co-parent well and my partner is here with me, that’s all I care about.
I work and can support myself and my children independently (work is something I wouldn’t ever give up and he is very supportive with my development) though I’ll never be able to buy a house, but that side of things isn’t a huge issue to me and I’m happy to rent long-term.

Its a strange one as I know if I told friends they’d think I’d lost my mind but as I don’t have anything to financially lose they’d tell me it’s all ok, but is it? Am I not seeing a potential downside of this? He open with finances, he’s not a huge spender and has a reliable income as well as stocks, shares and investments, so can anyone tell me if I’m feeling this way for no reason please?

TIA!

OP posts:
SpinachandChocolate · 10/10/2023 11:53

Some of these comments are awful. Gees people be kind. If it is a scam OP would be heartbroken so don't be a rude twat.

I don't think its a scam - he's potentially spent a lot of money visiting you to try to scam out £8k.

However do be cautious. You don't know enough about him to pool assets. Keep your own account and just say this is how you do things. You don't know things like what is he like with money, how long you'll be together etc.. just be careful.

Also I worry you've not asked for more from your husband but you're leaving hand to mouth. You clearly feel guilty for leaving. But you need to be practical here. I assume you sacrificed your career to some degree to help raise kids - you probably deserve more.

MrsDanversGlidesAgain · 10/10/2023 12:14

Some of these comments are awful. Gees people be kind. If it is a scam OP would be heartbroken so don't be a rude twat

The idea of explaining to OP that this COULD be a scam is so she ISN'T left heartbroken and/or out of pocket.

I don't think its a scam - he's potentially spent a lot of money visiting you to try to scam out £8k

Scammers usually start small and ramp it up. Posters have explained - in detail - how it could be a lot more that £ 8k. Ever heard of a long con?

Crikeyalmighty · 10/10/2023 12:26

I think it's best to be positive , but protect yourself 'just in case' - some people do indeed have a long game. His may be getting loans etc and leaving the OP with the fallout- it may be a scam and maybe not - but I can't think of a single reason you would be mingling finances of any kind at this stage . Any totally genuine person with a brain would understand this. If he starts getting persistent in this and it develops into an obsession on financial whataboutery rather than the relationship then I would run a mile OP

belgiumchocolates · 10/10/2023 13:02

Scammers usually start small and ramp it up. Posters have explained - in detail - how it could be a lot more that £ 8k. Ever heard of a long con?

Exactly and also there's a strong possibility that OP is not the only one. I don't mean to be unkind by saying this. Scammers have multiple victims at the same time telling the same story to each so 8K may not sound worth scamming for but 8K x however many women adds up.

I'm sorry again if I am wrong

GoGoGo2 · 10/10/2023 13:03

No!

holamums · 10/10/2023 13:26

Neither of us have any shared financial obligations (house, car, loans etc) just two small children who we’ve always agreed we will share 50/50 custody, decisions and arrangements for so we don’t expect any formal financial arrangement for maintenance or set days and weeks.

JUST two small children!?! JUST 😖😖😖😖 wow those poor kids being seen second to 'financial obligations'! Could only skim read after this.

SpinachandChocolate · 10/10/2023 13:45

MrsDanversGlidesAgain · 10/10/2023 12:14

Some of these comments are awful. Gees people be kind. If it is a scam OP would be heartbroken so don't be a rude twat

The idea of explaining to OP that this COULD be a scam is so she ISN'T left heartbroken and/or out of pocket.

I don't think its a scam - he's potentially spent a lot of money visiting you to try to scam out £8k

Scammers usually start small and ramp it up. Posters have explained - in detail - how it could be a lot more that £ 8k. Ever heard of a long con?

I'm not criticising people saying it's a scam but the way it's said with ffs and the accusations.

MoaningMolly · 10/10/2023 15:40

If he opens a joint account with you, could he get credit in your name? Credit card? Loans? That you would be liable for?

Surely you could both have accounts at the same bank, and it would be easy to transfer between the 2? Say HSBC.

Fmlgirl · 10/10/2023 16:12

I’ve had this happen to me. My now stepdad was super quickly on the scene after my parents split up. Obviously my parents’ marriage has been bad for quite some time so my mum probably missed company but I was oblivious to the fact how it had been going between them.
This really changed the trajectory of my mum’s and I’s relationship and I would say it’s broken to this day some 20 odd years later. I would never do this to my own son. I would rather stay single or date casually.
Your kids need stability now. Do not move this stranger over here or even into the same house as you if your kids are important to you. This is a total train wreck waiting to happen.

Darhon · 10/10/2023 16:42

In real life, people who are settled, both have jobs and their own salaries frequently get together in 1-2 years and settle. It’s biologically determined. Some of these partnerships will fail (second marriages often being less secure than first), some will go the distance. What often happens is people who have really long settled relationships can’t conceive of what they might do if that fails, and some people who separated and spent years single, feel the people who love on are being hasty. So they will pick these things apart I’d say most people move on in a 1-4 year period. If they couple up, it’s costly to live separately and so many join up relatively quickly. If they want more children (again biology), they may do that quickly too.

It is risky, but in many cases in the news where the stepfather/mother is abusive, there is severe dysfunction and the new arrangements are not about providing stability or structure.

UltimateInteriors · 10/10/2023 18:19

This thread is still going strong but the OP hasn't been here since the 6th.

I don't know if she's reading?

What I wondered was how much of an overlap there was between her husband the new man.

I may be wrong but part of me wonders if the reason she's so happy to accept no financial settlement is because the divorce was only initiated when she met the new man.

I also wonder if it's worse than that and the H doesn't know he exists! She's only met this man a few times when he suddenly manages to come to the UK once a month and she's had a trip to the US.

belgiumchocolates · 10/10/2023 18:35

OP might not come back to the thread because she was asking about bank accounts.
It appears that it hadn't crossed her mind whatsoever that she might be being scammed.

Some MN posters myself included suggesting this possibility must have been a massive shock to OP.
Hopefully she is still reading.

TeeedleDum · 10/10/2023 18:37

Hey OP. I really hope this works out for you and this guy is on the level but just going to suggest some potential concerns as I believe this is what you're looking for?

  • if you have a joint bank account you would be jointly responsible for any unpaid loans and liable for this (e.g could affect your credit score, leave you holding the bill, etc.)
  • if you have a us bank account you might have to do a tax return for IRS for any interest earned (but I think you'd have to earn a lot of interest for this to kick in)
  • love bombers use finances as a means of coercive control so they're partner becomes dependent on them. I am 100% not saying that is what this guy is as I don't know him, just playing devil's advocate
  • scammers will encourage their 'partner' to take out large loans which they promise they only need temporarily (as they've previously proven they are financially solid) and will repay but then disappear - again I don't know him, just pointing out worst case scenarios

Also I know you didn't ask for advice on this but I'd be slightly concerned about how little you're receiving in the divorce in order to safe guard your children's inheritance. The reason for this is my friend's dad was very rich and her mum didn't get much. He remarried and left everything to his new wife (my friend's step mum) when he died. My friend and her brother have never got any money and step mum has given a lot of the money to her own children from a previous relationship.

Personally I wouldn't combine finances with someone until I'd lived with them. I'd be tempted to get a short term lease like 6 months or a rolling monthly contract, live with him for a few months and then buy together if everything goes well. I feel he should be happy with this as you'd only be paying rent for a few months and it would give you a chance to find somewhere in the UK together. If he was really resistant to this I would seriously think about why as it would only be a short time and small financial loss.

Good luck with everything!

Chrisimm1984 · 10/10/2023 19:01

Sounds very similar to the Tinder Swindler on Netflix

stealthbanana · 10/10/2023 21:33

One other thing OP - do NOT put yourself on a US bank account, if it earns interest then you will have to potentially file a US tax return. Ditto in the other direction - lots of banks won’t even bank Americans because it creates a tonne of extra FACTA reporting. I am married to an American citizen and I joke I wouldn’t have married him if I’d known the headache it would cause with all things tax related.

Apart from that, obv there is no reason why you can’t take it slower. I don’t know why you’d want to commingle lives with someone you’d known for a relatively short time given you have a child. But PPs have covered that in spades!

asquideatingdough · 10/10/2023 22:26

Perhaps OP won't come back - many people were unnecessarily rude in their replies. But in case she does or someone else reading is in a similar situation- no bank in the US will open an account for someone who is not a citizen or a resident or even planning to visit!

Second, there are apps like Wise that make international money transfers very easy, secure and inexpensive. You don't need to rely on your bank.

Third, OP is clearly entitled to a portion of the equity in her marital home and no agreement with her ex will truly protect her sons' inheritance because her ex can always change his will at any point. While you would hope he wouldn't disinherit his own children, stranger things have happened.

jelly79 · 10/10/2023 22:50

Lovely that you have an amicable divorce; a new partner and your kids seem settled

Keep that. There is no rush?

Zero need for a bank account and to live together.

Mydogmybestfriend · 11/10/2023 02:30

He can leave his money in the account for you to spend you keep your money in your own account for your children
Don't be foolish here

Mydogmybestfriend · 11/10/2023 02:31

Saying that he could be into fraud so best not have your name on anything

BastetsWhiskers · 11/10/2023 04:30

It's a lovely feeling being in love but definitely no joint bank accounts as yet!

I only got one with my ex after 4 years together and we're both Brits, so no added complications. One of the most satisfying things about leaving him after his violence was frogmarching him down to the bank and getting the account into my sole name.

alwayscrashinginthesamecar1 · 11/10/2023 05:25

This reply has been deleted

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Bananaramad · 11/10/2023 05:33

Huge NO from me. Keep your own account,. Both open revolut cards if you need to pass money to each other.

SpinachandChocolate · 11/10/2023 20:19

asquideatingdough · 10/10/2023 22:26

Perhaps OP won't come back - many people were unnecessarily rude in their replies. But in case she does or someone else reading is in a similar situation- no bank in the US will open an account for someone who is not a citizen or a resident or even planning to visit!

Second, there are apps like Wise that make international money transfers very easy, secure and inexpensive. You don't need to rely on your bank.

Third, OP is clearly entitled to a portion of the equity in her marital home and no agreement with her ex will truly protect her sons' inheritance because her ex can always change his will at any point. While you would hope he wouldn't disinherit his own children, stranger things have happened.

Yeah people have been so awful saying or implying she's not a good mum. She came here asking for advice. Basically online bullying.

If I were OP I'd wouldn't be able to look at this, it would trigger anxiety. Well done bullies as the awful responses are likely to get them turning to their bf.

It's a shame really given there was lots of genuinely useful advice and a lot of concern.

VeraMay · 12/10/2023 17:39

Firstly, can I say how pleased things are going well for you.
By all means have a joint account but you do not need to put any money into it. You can't afford to. Open a high interest savings account, such as a supermarket Internet Saver account if you have any to save after outgoings. You don't need to use the American joint account unless he specifically asks you to buy something in particular.
If he wants to make it easy for you to make purchases with the money he puts into the account, then that's great.

He sounds lovely, and sensible but be wary of joint accounts until you are properly living together.
My DH and I have an internet savings account each, plus our joint bank account which we pay a regular amount into each week to pay for bills, food etc. We settled on this system when moved in together. Good luck.

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