Affidavit Of Assets And Liabilities Template for the United States

When you need to show a complete picture of your finances for a legal or financial matter, an Affidavit of Assets and Liabilities is your sworn declaration of everything you own and everything you owe. It creates a legally binding snapshot that a court, a creditor, or a lender can rely on to make decisions affecting your case or application. Because you sign it under penalty of perjury, accuracy matters as much as completeness.

What is an affidavit of assets and liabilities?

It is a written statement of your financial position that you swear to be true. On one side you list what you own: real estate, bank and retirement accounts, business interests, vehicles, and personal property of significant value. On the other side you list what you owe: mortgages, credit cards, student loans, tax obligations, and any contingent debts. A notary or authorized officer verifies your signature. The completed form is often called a statement of assets and liabilities or, more narrowly, an affidavit of assets.

When do you need this document?

You'll typically need one in several situations:

• Divorce and family cases. Courts require full financial disclosure so property is divided fairly and any child support or spousal support figure is calculated on real numbers. In some family and domestic violence matters a judge may order this affidavit early in the case.
• Bankruptcy proceedings. The document demonstrates your complete financial picture to the court and creditors.
• Loans and mortgages. Lenders may require the affidavit to verify your capacity to repay significant borrowing.
• Estate planning and probate. The information helps structure a will or trust and settle an estate.
• Litigation and arbitration. When your finances are relevant, a court or an arbitrator may order you to file this affidavit as part of the case record.

Where is it filed and who reviews it?

Filing depends on the matter and the venue. A divorce or probate affidavit is generally filed with the clerk of the circuit or county court hearing your case, and the presiding judge reviews it alongside the rest of the record. In many states these matters run through the circuit court's chancery division, and some large systems, such as the Circuit Court of Cook County, Illinois, publish their own local forms and filing steps. Bankruptcy filings go to the federal bankruptcy court. The affidavit is a civil filing tied to your case and is not a criminal, juvenile, or traffic form, though a false statement in it can carry criminal perjury exposure. Some courts also require you to update the affidavit if your circumstances change while proceedings are ongoing.

Which court and division handles the filing?

Court structure affects where your affidavit goes and which rules apply. Use this as a quick guide.

Check the clerk's office for the exact location, courthouse address, and any local standing orders before you file, since requirements differ by county and by judicial circuit.

What are the key legal considerations?

The central point is that you swear, under penalty of perjury, that everything you disclose is true and complete. Federal law under 28 U.S.C. \u00a7 1746 governs unsworn declarations, and state perjury statutes impose penalties for false statements. Disclose all holdings, including jointly owned property, retirement and investment accounts, and business interests. On the debt side, include mortgages, credit cards, student loans, tax obligations, and contingent obligations. Leaving something out can lead to perjury charges, dismissal of your case, or a court order to refile. Notarization adds a further layer of verification to the sworn statement.

How do you complete the affidavit accurately?

Gather your records first: bank and brokerage statements, retirement account balances, mortgage and loan payoff figures, credit card balances, vehicle titles, and recent tax filings. Value each item as of the date you sign, and note how you arrived at any estimated figure. List every account and debt individually rather than in a lump sum so the court can follow the numbers. Once the form is complete, sign it in front of a notary or an officer authorized to administer oaths.

Legal requirements in the United States

Federal law sets the framework for affidavits, but the specifics vary by state and by purpose. The Federal Rules of Evidence govern how these documents are handled in federal court, and the Federal Bankruptcy Code sets standards for bankruptcy-related disclosures. Each state has its own notary rules for how the document must be witnessed and verified, and state property rules influence what must be disclosed and how it is valued. Follow your state's formatting requirements, which may dictate particular wording for the verification statement, notarization steps, and how categories are itemized. A local administrative order from the court, or a standing administrative rule of the clerk's office signed by the chief judge, can also set the exact form and filing procedure you must use.