I''ve been with my ''new man'' for about 15 months now and we''re planning that he moves in with me in the autumn when his youngest child goes to University. Over two years ago, before we met, he was advised to go bankrupt. He is self-employed and had got into a bit of a mess, partly to do with the little that he walked away from the marriage with. He has had 50/50 parental responsibility for his 3 children since he and his wife split about 7 years ago and has been living in rented accommodation.
We were discussing opening a joint bank account for household bills (if the bank will allow it as he had difficulty opening his own personal account after bankruptcy). We were wondering whether me sharing an account with him and co-habiting will affect my own credit rating. I own my house outright and have never been in debt, always pay my credit card bills every month etc.
I also need to make sure that I am protecting my own assets and the future inheritance for my children. Is there anything in particular I need to be aware of or doing, apart from my Will being crystal clear.
We''re not considering marriage yet but it''s not completely out of the question for the future. I''m 58 and he is 54.
Why are you looking to provide him with any kind of account or card. Surely he will have no rent to pay now as he will be living with you in your house and should therefore be more than willing to pay his share out of his own account.
It''s not that I am intending funding his living with me - we intend to share all household and utility bills and it would make it simpler with regard to food shopping etc. rather than my paying him half of everything he buys and him paying me etc. I guess we''ll just have to try and set a monthly budget for everything and him pay into my account and then have a cash float for odds and ends.