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Relationships

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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:
SaulHudsonDavidJones · 06/10/2023 11:45

Ollifer · 06/10/2023 11:15

So you've met him five times? This is utterly ridiculous and I feel sorry for the kids. Yet again another parent putting their love life before their children.

Yep. Poor kids.

LNY1986 · 06/10/2023 11:45

Completely mad OP. Screams of a scam.

Why jump from one relationship to another so soon anyway? Sort your living situation out, spend some time with your children before rushing of to find another partner.

Your own company won't kill you!

Mevawall · 06/10/2023 11:45

They are a priority, I’m not sure where I’ve said they’re not? I’m staying in my marital home to make sure they are stable until I can move locally so they don’t need to change schools/uproot too much of their lives outside of home. Sadly there is very little to rent here right now.

OP posts:
GCAcademic · 06/10/2023 11:46

Just crack on, OP, you’re obviously not going to listen to anyone on here.

At least your ex-husband is having the kids 50% of the time, so that will hopefully limit the damage that your desperation will inflict on them.

Everdaywingingit · 06/10/2023 11:47

Is this a roles reversed thing and you are the one moving and it’s his relationship that ended? Because you see very naive about the impact on the children?

greyhairnomore · 06/10/2023 11:47

Mevawall · 06/10/2023 11:29

I guess I was asking what the financial implications are to me? Exactly as I asked. People are very hung up on ‘you don’t know him’ and implying he’s a creep or (very deluded) scam artist, which is fair enough and I’d feel the same way I imagine, but I just want to know if anybody knew if he put my name on an account there assuming I didn’t stick my wages in (which would be counterproductive anyway due to currency exchange fees) what would be the implications for me?

Then you'll be financially liable if he takes out loans / cards on that account.
You could say the same the other way round.

Mevawall · 06/10/2023 11:47

7 times, once a month on average I guess you could almost say apart from when we originally met, not too dissimilar to any other LDR in some ways.

To whoever said he could be a tinder swindler I did laugh, he’s not rich but not poor, doesn’t drive anything flash or spend loads of money, he’s just comfortable I guess.

OP posts:
Milliondollars · 06/10/2023 11:48

Do not even put your name or details on an account even if you think it doesn’t matter as you have no money.

Very odd for him to even suggest it when you are not even in the same country.

Docke · 06/10/2023 11:48

Mevawall · 06/10/2023 11:41

Sorry it baffles you, it wasn’t me prowling the streets for someone I am capable of being alone and was very much ready to, it just happened, the same as it would have if it came up next year or the one after.
You’re acting like I’m moving him in after a week not a year and a half+ of first meeting him 😂

So you met him before you ended your marriage?

Foxblue · 06/10/2023 11:49

You have spent such limited time together in person yet you are planning on moving him in with your kids?? It doesn't matter that it will be 18 months when that happens, it's way WAY to early to be thinking about this - you are only going on what he tells you about himself, you havnt spent enough time together for you to know the reality. Slow it RIGHT down.

LaurieStrode · 06/10/2023 11:49

Docke · 06/10/2023 10:56

You need to give yourself a good shake.

Your poor kids have just gone through their family being broken up and now you’re moving Daddy v2.0 in?

FFS- some women are just so desperate to have a man they’ll sacrifice their children’s safety, emotional security, and well-being to do it.

Have you ever even met this man in person?

My thoughts exactly.

Mevawall · 06/10/2023 11:49

Nope, I’m not moving anywhere, the kids will be introduced gradually, days out/meals/time spent together when he’s not staying with us etc before introduced as my live-in partner. He’s not going to just turn up with a suitcase and move in and they just need to lump it lol

OP posts:
IfOn · 06/10/2023 11:50

OP, people are saying not to share finance with this person you've only JUST and yes, I mean JUST met. You can continue dating if you like but don't share finances with him. You're another thread waiting to happen asking for "advice" when it all goes to shit.

Mevawall · 06/10/2023 11:50

No, it’ll be 18m+ before he would be living with me, I met him 8 months ago and he would t be here until probably June/July next year then it’d be a gradual introduction to living together.

OP posts:
gertrudemortimer · 06/10/2023 11:51

If you both rent and your rental for whatever inexplicable reason falls through within the first months then won't be have a rental you can move in to if it's a worse case scenario? I think it's very unlikely you'll be chucked out of a rental with kids within the first year unless you are not paying your rent. Even if you don't pay your rent it isn't a quick eviction it has to go through a legal process that takes months.

If he's got that much money then why doesn't he just buy on his own. Why is he so desperate to move in and share finances with a married woman who still lives with her husband and who has two kids whom he doesn't know very well.

You're acting completely bananas here I'm sorry to say. Live on your own for a bit, buy your own furniture, have your house how you and the kids want it. You're already talking about marriage too! I'm not saying don't be with the guy but set up a life where you aren't reliant on a man first and you (and your kids) will be much less vulnerable to any changes in circumstances.

LNY1986 · 06/10/2023 11:52

Somethingweirdisgoingon · 06/10/2023 11:38

I will never understand people who end long term relationships or marriages and jump straight in with someone else, especially with kids involved. I always think they must have very little confidence or ability to be on their own. Baffles me.

It is all about low to zero self-esteem and self-worth (and self-respect)

I am constantly baffled by friends and colleagues who break up with someone only to be in a relationship with a new bloke within weeks!

Most women seem to be unable to spend any time to themselves. Or else frightened of their own company. Who knows but I just don't get it.

BettyPhuckzer · 06/10/2023 11:53

Mevawall · 06/10/2023 11:50

No, it’ll be 18m+ before he would be living with me, I met him 8 months ago and he would t be here until probably June/July next year then it’d be a gradual introduction to living together.

Then let the joint finances be gradual too. Keep EVERYTHING separate until the children are happy about him being in your life

Precipice · 06/10/2023 11:54

NoSquirrels · 06/10/2023 11:31

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.
If you sign an AST, and he’s moving this next year, you’re not going to be kicked out abruptly. Presumably he’s not clued up on U.K. housing law. Just tell him this isn’t a worry for you.

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.
Once he’s over here he’ll have a UK bank account and transfers will be simple. Again, tell him this isn’t a worry.

If he’s a good guy, he’ll take it slow regardless of his opinion on renting being ‘wasted money’. It’s not. It’s an investment in your relationship to have separate rentals.

Just to say that UK tenancy laws vary across the UK. You've not been able to create a new AST in Scotland for 6 years now, just the existing ones have carried over. Scottish private residential lets are all open-ended rolling contracts, but the landlord intending to sell is an accepted reason for the landlord terminating the tenancy.

Mevawall · 06/10/2023 11:55

And that’s fair enough, there have been some good points raised and something we will discuss. I’m not in any rush to have a share in his money, he doesn’t want or need mine (not that I have anything). He’ll be fine with it I think it’s just that when he’s sent me an amount before there was a few fees and issues getting it here as my bank isn’t bricks and mortar so he wanted to avoid it in future.
I’ll be honest finances aren’t my strong suit which is why I asked about implications, some have been needlessly rude to me but that’s fine I don’t know them, my children are my priority, they’re safe, loved and cared for, this is part of my life for me for now and one day of things continue to go well will encompass them. I was checking what implications it’d have on me final ally and some have kindly pointed them out which I’m grateful for.

OP posts:
NoSquirrels · 06/10/2023 11:56

Mevawall · 06/10/2023 11:50

No, it’ll be 18m+ before he would be living with me, I met him 8 months ago and he would t be here until probably June/July next year then it’d be a gradual introduction to living together.

You might have met him 18 months ago but your DC will have moved out from their existing home with 2 parents and be adjusting to living 50-50 between 2 households. Just don’t rush it. Don’t put dates on any of it yet. There’s no need.

Milliondollars · 06/10/2023 11:56

Op you are saying that he is not moving over until June or July but in your op you say he has already sold his home ready to come over. Why is he rushing it so much?

itonlyhappensonce · 06/10/2023 11:56

I do think you're mad, OP.

I'm in a similar position. New relationship albeit four months in and separated early this year.

However, the guy I'm seeing I've known for 20 years (we went to school together and dated as teens). If we both hadn't ended up single at the same time I wouldn't be with anyone right now because I can't be doing with getting to know someone new and navigating my new life.

I have zero plans to ever buy a house with anyone as I am fortunate enough to be able to do this solo. Even if I wasn't, there is no way I would want to shackle myself to somebody in a hurry because it's a pain in the arse working that through when it goes to shit.

I will never have a joint account with anybody again. The odds of me marrying again are also highly unlikely. And I'm 31 with a 3YO, so in reality do have time to 'start again' from the beginning with someone if I wanted to.

Thisisme23 · 06/10/2023 11:58

Mevawall · 06/10/2023 11:29

I guess I was asking what the financial implications are to me? Exactly as I asked. People are very hung up on ‘you don’t know him’ and implying he’s a creep or (very deluded) scam artist, which is fair enough and I’d feel the same way I imagine, but I just want to know if anybody knew if he put my name on an account there assuming I didn’t stick my wages in (which would be counterproductive anyway due to currency exchange fees) what would be the implications for me?

Blimey - I can't believe this thread is for real to be honest. But just in case it is I'll play along.

So if you open a joint account with this man. He either runs it massively over drawn or takes out a loan using it. You're are then a) jointly liable. and b) as you are still married - so is a debt it could have implications an any division of marital assets.
Put the other way - your lovely new partner deposits a large sum of money into the joint account..... again you're still married so would be classed as part of marital "pot" an your current husband technically could be eligible for a portion of it??

Are you getting how daft an idea this is yet??
Why on earth are you accepting a sum of just £8k from your divorce?? I get that the house was a gift from grandparent - so yes STBEXH should stay there - but the house is a marital asset and you should be entitled to half the value?? I just can't get my head round your thinking @mindutopia
Your head is pointing in the wrong direction - start focussing on your divorce and ensure finances will allow you to live independently. Start focussing on your kids needs and for the time being forget this American. If he really is that lovely he'll wait until you are settled and you can re-plan form there.

Somethingweirdisgoingon · 06/10/2023 11:59

@LNY1986

I think you're absolutely right, I hadn't thought of it that way. It's really quite sad now I think about it.

Mevawall · 06/10/2023 12:00

He sold his home as he moved states to be closer to his grandfather who has now passed, he was in the process of doing that before he met me, sorry I don’t think that was clear, he didn’t sell his house to move here though he’s sold some other assets he’s not using since to put with the money from the house sale for moving.

OP posts: