What is a Affidavit Of Means?
An affidavit of means is a sworn financial statement used in family proceedings, civil enforcement, and insolvency matters in England and Wales. It requires full and frank disclosure of all assets, liabilities, income, and outgoings under oath. Courts rely on it to make fair financial orders, and deliberate understatement of assets is both perjury under the Perjury Act 1911 and grounds for setting aside any order obtained by the false disclosure.
About the Affidavit Of Means
An Affidavit of Means is a sworn legal document that provides comprehensive financial disclosure under United States federal and state laws. You'll use this document to present your complete financial picture to courts, legal representatives, or other authorized parties when detailed financial information is legally required. The document must include accurate details about your income, assets, debts, and regular expenses, all sworn under oath and subject to perjury penalties.
When do you need this document?
You'll need an Affidavit of Means in various legal proceedings where financial transparency is essential. Divorce courts require this document to determine spousal support, child support, and property division based on both parties' financial capacity. Bankruptcy proceedings mandate comprehensive financial disclosure to assess your ability to repay debts or qualify for debt discharge. Family courts use these affidavits to calculate child support obligations and determine custody arrangements when financial stability is a factor. Criminal courts may require financial disclosure for indigent defense qualification or when determining fines and restitution amounts.
Key legal considerations
Your Affidavit of Means must comply with strict accuracy requirements under federal perjury laws (18 U.S.C. § 1621) and state perjury statutes. Any false statements can result in criminal charges, fines, and imprisonment. You must disclose all income sources including employment, investments, rental income, government benefits, and gifts above certain thresholds. Asset declarations must include real estate, vehicles, bank accounts, retirement funds, investments, and personal property of significant value. Liability statements must cover all debts including mortgages, credit cards, student loans, tax obligations, and informal debts. The document must also detail monthly expenses for housing, utilities, food, transportation, insurance, and other regular costs.
Legal requirements in United States
Under Federal Rules of Evidence, particularly Rules 601 and 603, your affidavit must be sworn under oath before a qualified notary public or other authorized official. State notary laws govern the specific formatting requirements, notarization procedures, and identification requirements for valid execution. You must be competent to testify and understand the oath's significance when signing. Financial disclosure requirements vary by jurisdiction but generally follow Bankruptcy Code standards for comprehensive asset and income reporting. Privacy laws including the Fair Credit Reporting Act may apply to how financial information is collected, used, and shared. Some states require specific language or formatting for court acceptance, so you should verify local requirements before finalizing your affidavit.
Governing law
Applicable law
This Affidavit Of Means is drafted to comply with England and Wales law. Key legislation includes:
- Family Procedure Rules 2010 (FPR), Part 9: Require full financial disclosure in financial remedy proceedings in England and Wales; Form E (the standard financial statement) is the primary vehicle, but sworn affidavits of means may also be required by the court.
- Perjury Act 1911: Applies to sworn affidavits of means; deliberately understating assets or overstating liabilities in a sworn financial disclosure is a criminal offence in England and Wales.
- Oaths Act 1978: Governs the administration of oaths and affirmations before solicitors and commissioners for oaths in England and Wales, required when an affidavit of means is sworn.
- Civil Procedure Rules 1998 (CPR), Part 71: Allow courts in England and Wales to order a judgment debtor to attend court and complete a sworn statement disclosing their means and assets to support debt enforcement.
- Insolvency Act 1986: Requires bankrupt individuals in England and Wales to provide a sworn statement of affairs disclosing their financial position, which shares the character of an affidavit of means.
