The Affidavit of Assets is a fundamental legal instrument within the Canadian legal system, utilized when a formal, sworn statement of an individual's complete financial position is required. This document becomes necessary in various situations including divorce proceedings, bankruptcy filings, estate administration, or when required by court order. The affidavit must be sworn before a Commissioner of Oaths or similar authorized official and requires the declarant to provide detailed information about all assets (including real property, personal property, financial accounts, and investments) and liabilities. False declarations in an Affidavit of Assets can result in serious legal consequences under Canadian law, including potential criminal charges for perjury. The document's format and content requirements may vary slightly between provinces and territories, but its fundamental purpose remains consistent across Canadian jurisdictions.
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1. Declarant Information: Personal details of the person making the affidavit, including full legal name, address, and occupation
2. Purpose Declaration: Statement explaining the purpose for which the affidavit is being prepared
3. Statement of Truth: Declaration that the information provided is true and accurate to the best of the declarant's knowledge
4. Real Property: Details of all real estate owned, including primary residence, investment properties, and land
5. Bank Accounts and Cash: List of all bank accounts, cash holdings, and other liquid assets
6. Investments: Details of stocks, bonds, mutual funds, retirement accounts, and other investments
7. Personal Property: List of valuable personal possessions including vehicles, jewelry, art, and collectibles
8. Business Interests: Details of any business ownership, partnerships, or shares in private companies
9. Liabilities: List of all debts, mortgages, loans, and other financial obligations
10. Attestation: Formal declaration and signature section, including commissioner of oaths details
1. Income Sources: Section detailing regular income sources, used when the affidavit is required for family law or bankruptcy proceedings
2. Insurance Policies: Details of life insurance and other insurance policies, particularly relevant for estate planning
3. Trust Interests: Information about any trust beneficiary interests or trustee roles, relevant for estate planning or comprehensive asset disclosure
4. Contingent Assets: Details of potential future assets such as inheritances or pending legal claims, important in divorce or bankruptcy contexts
5. Recent Transfers: Declaration of assets transferred within a specific recent period, particularly important in bankruptcy or fraud investigations
6. Foreign Assets: Details of assets held outside the country, important for comprehensive disclosure or international proceedings
1. Schedule A - Real Property Details: Detailed listing of all real estate holdings including property descriptions, titles, and valuations
2. Schedule B - Bank Account Details: Comprehensive list of all bank accounts with account numbers and current balances
3. Schedule C - Investment Portfolio: Detailed breakdown of investment holdings including account numbers and current values
4. Schedule D - Vehicle Details: List of all vehicles owned including registration numbers and valuations
5. Schedule E - Personal Property Inventory: Itemized list of valuable personal property with descriptions and estimated values
6. Schedule F - Business Assets: Detailed description of business interests including valuations and ownership percentages
7. Schedule G - Liability Details: Comprehensive list of all debts including account numbers and current balances
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