Is one’s wealth permissible for his father, even if the father is being rich? What is the meaning of the Hadith: "You and your wealth belong to your father"?

        Praise belongs to Allah. May His Blessings and Peace be upon our Prophet Muhammad.

A man has no right to his son’s money unless he is poor, as his financial support would be obligatory on the son in this case. Thus, the son’s money becomes permissible for his father because of his poverty, want, and need. That’s the meaning of the hadith that goes, “You and your wealth belong to your father". (Narrated by Ibn Majah)

But if the father is rich, he is not then permitted to take his son’s money as jurists stated. Imam Abu Yusuf, the Hanafῑ scholar (may Allah bless his soul) said, “And if a man consumes his son’s money while he is rich and his son is an adult, then the ruling is according to Abu Hanῑfah (may Allah be pleased with him) who used to say, 'This money [taken from the son] is then a debt on the father”. (Ikhtilāfu Abi Hanῑfah wa Ibn Abi Layla, p. 29)