´It was narrated from 'Amr bin Shu'aib, from his father, that his grandfather said:` "A man came to the Messenger of Allah (ﷺ), and said: 'My father is taking all my wealth.' He said: 'You and your wealth belong to your father.' And the Messenger of Allah (ﷺ) said: 'Your children are among the best of your earnings, so eat from your wealth.’”
Hadith Referenceسنن ابن ماجه / كتاب التجارات / 2292
1؎ : From this hadith it is understood that a father can make use of his son's wealth according to necessity, and even if the parents take the son's wealth, the son should not confront them, nor speak harshly to them. Rather, he should remember the time when the parents raised him with love, cleaned his urine and feces, then fed him, gave him drink, educated him, and taught him. All these favors are such that even if the son's skin were to be used in the service of the parents, their favors could not be repaid. He should understand that his salvation depends upon the pleasure of his parents; if the parents are displeased, both this world and the Hereafter will be ruined. Experience has shown that those sons who kept their parents pleased attained great blessings and lived their lives in peace, while those who mistreated their parents always remained in distress and anguish in this world. If the parents take the son's wealth, he should be extremely happy, thinking, "How fortunate am I that my money is being used for my parents, or that the money has been spent in its rightful place." He should say to his parents, "Not only my money, but my body and my life also belong to you. If you wish, you may even sell me in the market; I am your servant."
Narrated Abdullah ibn Amr ibn al-As: A man came to the Prophet ﷺ and said: Messenger of Allah, I have property and children, and my father finishes my property. He replied; You and your property belong to your father; your children come from the pleasantest of what you earn; so enjoy from the earning of your children.
Shaykh Umar Farooq Saeedi
Benefits and Issues: Benefit: Islamic teachings strongly advocate for making the family unit extremely strong. It is obligatory upon children to support their parents, and they should consider this their good fortune. And parents also have the right, without any permission, to fulfill their essential needs from the earnings of their children. However, it is evident that in this matter, there should be neither excess nor negligence from either side. It is absolutely incorrect to derive from this hadith that the son's wealth entirely belongs to the father. Rather, it is permissible only to the extent that he may take what is necessary for his essential needs. In Allah’s Shari’ah, the ownership and disposal (tasarruf) of both are separate and distinct. It is on this basis that inheritance is established between them. If there were no difference in ownership and disposal, then inheritance would have no meaning. The purpose of the hadith is to obtain the fulfillment of basic essential needs, not to spend the earnings of the children recklessly and ruin them. And Allah knows best. Furthermore, these earnings will be lawful (halal) only when the source of the children’s earnings is lawful (halal) and pure (tayyib).
Source: Sunan Abu Dawood – Commentary by Shaykh Umar Farooq Saeedi, Page: 3530