Q: My boyfriend is still married, and is not legally separated. However, he moved out of his wife’s house and moved in with me and we now live together.

We want to buy a home and start our life, but we’re hesitating because of his married status. I’m worried that if we buy something, she’ll have an interest in the home.

But I also heard that when you are “physically separated,” all costs incurred afterward are the responsibility of each person. Does this apply to purchasing a home as well?

A: Well, I’m glad you’re hesitating. If I were you, I wouldn’t buy a home yet with my married boyfriend. Right now, no matter where he lives, he’s legally married to his wife and she likely would have an interest in any property you purchase.

Until he’s legally separated, and preferably divorced, this is a precarious financial road you’re on.

Be very careful, and seek legal and accounting advice so that your assets are protected. I’d also refrain from getting any joint credit cards or opening up any other joint financial accounts. Your boyfriend needs to sort out his personal and financial life. Your job is to avoid getting caught up in it.

Finally, keep in mind that your boyfriend’s credit history can impact yours if you buy property together and his wife raises issues and causes problems that can harm his credit.

If his credit history is harmed and you need to refinance your property, you may end up paying higher costs for your monthly mortgage payments and if you have any joint credit cards, the “universal default” provisions of some credit card companies could possibly impact your credit cards.