Lending money to husband

King_Nothing

"Of course I'll lend you some money darling... here's a needle, if you'd be so kind as to give me your old John Hancock on this document, in your blood please. And initial, here, here, and here, and date and time please. Thank you, pleasure doing business with you... hunny"

Brighton_belle

Sounds like a good ,open honest relationship to me OP: I wish you many happy years together.
As someone else said -this board is full of people who find discussing finance with their OH's very difficult (or they don't but their OH's do) so it refreshing to hear two people repecting each other and wanting to protect each other against the unknowable future.
He's only got to have a head injury in an accident to change personality enough to make life/finances very difficult. And if he dies tomorrow, the OP needs to protect her loan against any possible inheritance expectations of his relatives.
These things happen.

It is quite clear that your DH was adamant that he would only accept if he paid it back, so he could hold his head up high. Good for him.

Head_Girl

Thanks GEEGEE8. Didn't see your post when I was replying.

Thanks to those people who have given positive and useful advice as requested. I believe that is what a forum is for, not for judgements or petty comments. Please feel free to disagree with my opinions, decisions, etc, but do it in a positive way, not with abuse.

Head_Girl

And thanks to Brighton belle. I can't type quick enough before someone else posts! :rotfl:

I really feel that I need to get on and do some housework, prepare dinner, etc, but this site is so addictive! :j

sashadesade

I haven't read this whole thread but am a bit baffled by the indignation of some people. Admittedly the bit about the husband paying interest made me raise my eyebrow, but OP states that her husband in fact suggested this himself. They are both adults and both happy with this arrangement, so...? Everyone has different ways of going about things, doesn't mean that there has to be a wrong way and a right way.
As for drawing up a legal document detailing the arrangement, well if there's a lot of money involved then surely this is just common sense. As the OP says, you never know what's going to happen in the future.

Wicked_witch

I think it's sensible for your husband to pay interest in this case, because the money you're giving him is (I'm guessing) for your retirement. He would presumably be benefitting from the saved money once you're both older and that amount will now be reduced because you are losing interest on the investment. So if he makes up at least part of that lost interest with his repayments, there will ultimately be more money to make sure you BOTH still have the resources you need to make your later life secure and pleasant.

I wouldn't look at it as paying interest to you personally, but as a way of ensuring your future life as a couple remains financially stable.

Another Caroline here, btw!

justjohn

sashadesade wrote: »

I haven't read this whole thread but am a bit baffled by the indignation of some people. Admittedly the bit about the husband paying interest made me raise my eyebrow, but OP states that her husband in fact suggested this himself. They are both adults and both happy with this arrangement, so...? Everyone has different ways of going about things, doesn't mean that there has to be a wrong way and a right way.
As for drawing up a legal document detailing the arrangement, well if there's a lot of money involved then surely this is just common sense. As the OP says, you never know what's going to happen in the future.

There are many ways to look at this and i think most people were having a discussion regarding it.

The legal document could protect both parties. It assummed that its the to protect assets incase of divorce.

It could also be assumed its to protect the OP for when she gets bored with new hubby. All depends how you look at it and from what prospective.

Seems the OP wants it for protecting assets incase of divorce for whatever reason. Seems pretty pointles in my opinion if its a long term relationship/life relationship. Unless they are still going to have his and her money at the ripe old age of 80/retirement. All assets seperatly/wills is fine if it works for you.

Lifes alot easier working as one and as a unit pulling all resources for one goal.

The OP is charging interest on a loan to her husband as the relationship has not taken on joint financial responsibility. From a debate point of view how far do you take this?

Is this just an ego thing on the part of the husband? if not then what happens if the husband becomes financialy dependant on the wife?

There are some people that would not have a husband/wife that were a financial burden.

justjohn

OP and others could i ask a question.

If the partner is trusted and you believe in them.

Is the man/womens word or promise not just as good as any legal document?
Surely if his word/promise is not as good as a legal document eg. you think he/she we would renage on his word/promise for whatever reason then he/she is not to be trusted?

Just_Plain_Jane

What will you do in case of exceptional circumstances whereby he is made redundant or suffers ill-health and may be unable to pay? That's your money up the swanny unless you're going to take him to court for it. Or have you sold him a payment protection plan as well?

sashadesade

justjohn wrote: »

Lifes alot easier working as one and as a unit pulling all resources for one goal.

It is an interesting point of debate, but some of the posts came across in a nasty sneering way. I didn't really see the need for that; I don't agree with that particular arrangement myself but if it suits OP and her husband then that's their lookout.

I agree with you about pooling resources, for the record. The idea of a serious relationship where finances are kept seperate is strange to me. When I worked (am now in uni) my husband earned significantly more than me, but since we moved in together it's never been a case of mine and yours, just ours. We've never even discussed this, I suppose we both just assumed that this was the way it would be.