It is narrated from Jabir (may Allah be pleased with him) that a man said: O Messenger of Allah (peace and blessings be upon him)! And he mentioned the hadith.
Imam al-Bayhaqi (may Allah have mercy on him) says: Whoever holds that the son's wealth belongs to his father has taken the apparent meaning of the hadith as evidence. And whoever holds that the father may take as much of his wealth as suffices him when he is in need of it, and that once he is free of need (wealthy) it is not permissible for the father to take anything from his wealth, his evidence is the hadiths and reports that have come concerning the prohibition of taking another's wealth. If he (that is, the son) dies and he also has a son, the father receives a sixth of his wealth; and if his father owned his son's wealth, he would inherit the whole of it.
Hadith Referenceالسنن الكبرى للبيهقي / كتاب النفقات / 15752