My husband owns his retirement flat which he bought for £70,000 on a 70 years lease. that is all he could afford after the sale of his house because a lot of the money went to pay off his debts. The agreement between us was that I would take care of any money left, that is around £50,000. I gave him over £20,000 for new bathroom, new kitchen etc and pay for service charge and ground rent etc he now has about £30,000 left of his money and I refuse to let him have it because I need it to pay for the essentials. I know He cannot manage his financial affairs and I do his tax return and try to guide him. His income consists of a full retirement pension plus full disability benefits and a small annuity, perhaps about £1000.00pm. He previously had incapacity benefit which stopped at retirement age. He had more investment but all was spent. He runs two expensive mercedes and a mobility scooter. He suffers from bipolar and has been on anti-depressant for years. He is insulin dependant and a heavy smoker and drinker and does not care about anything and wants to spend it all!
I was widowed at 25 with two babies, worked hard to secure a future for my sons and myself. I always owned my house which became our home when I met my husband. I worked in our business which was my husband's and his late wife for the following 10 years. I took over because my husband was unable to cope and was having lots of mental problems. I worked without a salary but built up a successful business. I still own my house and I have a £90 pw state pension and a £600pm work pension which is no longer index linked (Lehman Brothers!), I also invested my share of the proceeds from the business and receive a £1000.00 pm. In all my income is about £2000.00 pm.
I recently moved into a new house to accommodate my husband's needs and spent a lot of my money to make life more comfortable for him. However, that was not enough, he wanted out, more expensive cars etc. I am desperate to find a solution, on a one hand I have a husband who wants to spend it all, on the other I have a dying son with three children!!