Dear Quentin, My husband and I make about the same salary, and live modestly. Six months after we married, I found out my husband’s net worth is virtually zero. He owes more money than he has assets (approximately $40,000). My net worth is over $500,000. I only found out about his situation because we each own homes, and we are looking to buy one together and completed a mortgage application in preparation for pre-approval. My home is paid off and I have very little debt.
While we dated for five years, he implied he was financially secure. He was always hesitant about sharing actual numbers, and now I know why. I’m an accountant and — looking at the numbers — he is not solvent, even though he still claims he is.
“‘We have not combined our finances, but we do have one joint savings account.’ ”
We have not combined our finances, but we do have one joint savings account. He keeps hinting at wanting to take care of the finances when we finally buy a house together. I’m against this after finding out about his financial situation. He doesn’t know the valu …