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Affidavit of Assets and Liabilities

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Affidavit of Assets and Liabilities
Property (Relationships) Act 1976

r 398(1), (2)

In the Family Court    FAM No:

at

Applicant

Respondent(s)

[Set out full description of document (including whether it is made with or without notice), its date, the Act under which the document is filed, and, in the case of an affidavit or affirmation, the name of the deponent in whose support it is filed.]

This document is filed by

[name and address for service, and, if filed by lawyers, the name and telephone number of the acting lawyer.]

I,

of

swear (or affirm) that:

1. My assets and liabilities are described in paragraphs 3 to 6.

2. The assets described in paragraph 3 include—

(a) all property owned by me either in my sole name or jointly or in common with any other person or persons:

(b) any interest to which I am beneficially entitled in any property:

(c) all property owned by me, whether it is in New Zealand or elsewhere:

(d) all property owned by me, whether I consider it to be relationship property or separate property:

(e) all property owned by me irrespective of the time at which or the manner in which it was acquired:

Assets

3. My assets are as follows:

(a) Family home or homestead:

Location:

Share owned:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(b) Land and buildings:

Location:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(c) Household chattels:

Location:

Share owned:

Identify those claimed as relationship property and those claimed as separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(d) Superannuation:

Name of scheme or schemes:

Proportion of value claimed as relationship property and proportion of value claimed as separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(e) Money in any bank:

Bank:

Account no:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(f) Money not in bank or invested:

Location:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(g) Money lent or in hands of any person:

Name and address:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(h) Government stock, debentures, or bonds:

Details:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(i) Company shares, debentures, or bonds:

Details:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(j) Plant and machinery:

Description:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(k) Livestock:

Description:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(l) Interest in business, partnership, stock-in-trade, or venture of any kind:

Description:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(m) Motor vehicles:

Description:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(n) Life insurance policy:

Life assured:

Name and number:

Share owned:

Proportion of value claimed as relationship property and proportion of value claimed as separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(o) Property insurance:

Name and number:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(p) Compensation or damages:

Description:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(q) Debt or mortgage owed to me:

Description:

Share owed to me:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(r) Interest in trust or estate:

Description (including whether the interest is a legal or beneficial interest):

Share:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

(s) Any other property or asset not specified above that is, or could be, the subject of an order in the proceedings:

Description:

Share owned:

Claimed as relationship property or separate property:

Value at end of marriage or civil union or at end of de facto relationship:

Value at date of affidavit:

4. Valuations of items described in paragraphs (a), (b), (c), and (d) of paragraph 3 are attached and marked A, B, C, and D respectively.

Liabilities

5. My liabilities are as follows:

(a) Mortgages secured over family home:

Mortgagee:

Amount owing:

(b) Mortgages secured over any other land or buildings:

Property:

Mortgagee:

Amount owing:

(c) Bank overdrafts or term loans:

Bank:

Amount owing:

(d) Loans secured over chattels, plant, machinery, or livestock:

Property:

Lender:

Amount owing:

(e) Hire purchase loans:

Goods:

Lender:

Amount owing:

(f) Other loans:

Lender:

Amount owing:

(g) Unsecured debts:

Lender:

Amount owing:

(h) Any other liabilities not falling within any of the preceding paragraphs:

Nature of liability:

Amount owing:

To whom owing:

Income

6. Since the end of the marriage or civil union or end of the de facto relationship, I have earned or received, from an asset described in paragraph 3 or from other sources, the following income:

Source:

Amount:

Capital payments

7. Since the end of the marriage or civil union or end of the de facto relationship, I have made the following capital payments to an asset described in paragraph 3:

Asset:

Amount paid:

Assets disposed of

8. The assets that, since the end of the marriage or civil union or end of the de facto relationship, I have sold or otherwise disposed of, or have agreed to sell or otherwise dispose of, are as follows:

Asset:

Date:

Amount received or to be received:

Disposition of amount:

Assets acquired

9. The assets that, since the end of the marriage or civil union or end of the de facto relationship, I have acquired or agreed to acquire are as follows:

Asset:

Mode of acquisition:

Amount paid or to be paid:

Value at date of affidavit:

Sworn (or Affirmed)

at [place]

before me:

................................................

Signature of deponent

................................................

Registrar
(or Justice of the Peace
or Solicitor of the High Court)

Note

End of marriage or civil union or de facto relationship

As to when a marriage or civil union or de facto relationship ends for the purposes of the Property (Relationships) Act 1976, see sections 2A(2), 2AB(2), and 2D(4) of that Act.

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What an Affidavit of Assets and Liabilities Is and When it Applies

An Affidavit of Assets and Liabilities is a sworn, written statement listing an individual’s or entity’s financial assets, liabilities, and related disclosures for use in legal, financial, or administrative proceedings. Typically executed under oath and notarized, the affidavit organizes information such as bank accounts, real property, vehicles, investments, outstanding loans, credit lines, and contingent liabilities. Courts, trustees, creditors, and contracting parties use the affidavit to evaluate solvency, determine equitable distribution, assess qualification for relief, or support discovery. Accuracy is required because the affidavit is admissible evidence and false statements may have legal consequences.

Why this Affidavit Matters

An Affidavit of Assets and Liabilities provides a concise, sworn inventory of financial positions to support legal, probate, bankruptcy, or transactional decisions. It streamlines discovery, supports creditor assessments, and establishes a verifiable record for courts or administrators.

Why this Affidavit Matters

Who Typically Prepares or Requires This Affidavit

Primary users who prepare or require this affidavit include litigants, trustees, bankruptcy debtors, creditors, and corporate officers during due diligence and compliance reviews.

  • Individuals in divorce, probate, or civil litigation who must disclose assets and outstanding debts.
  • Bankruptcy filers and trustees completing schedules and validations for court or creditor review.
  • Corporate officers and transaction parties during mergers, acquisitions, or financing due diligence processes.

Choose the appropriate level of detail and supporting exhibits based on the recipient’s legal or administrative requirements to reduce follow-up requests and challenges.

Core Sections to Include in a Professional Affidavit

Core sections of a professional Affidavit of Assets and Liabilities organize identifying information, detailed asset and liability schedules, supporting attachments, sworn statement, signature block, and notarization or witness details.

Identifying Information

Provide the affiant’s full legal name, current residential and mailing addresses, date of birth, and any business entities with taxpayer identification numbers to ensure precise identification.

Asset Schedules

Separate schedules for real property, bank accounts, investments, vehicles, and personal property with location details, ownership percentage, and estimated fair market values in USD.

Liability Schedules

List creditors, original loan amounts, outstanding balances, secured status, collateral descriptions, payment terms, and any pending default or collection actions.

Supporting Evidence

Attach recent account statements, deeds, titles, promissory notes, recent appraisals, and tax filings, labeling exhibits to match schedule references for efficient verification.

Sworn Statement

Include a jurat or oath language affirming truthfulness under penalty of perjury, signed by the affiant and dated at the time of notarization.

Signature & Notary

Provide signature lines, printed name, title if applicable, date, and the notary block including commission details and official seal or notarization certificate.

Step-by-Step: Completing the Affidavit

Follow these sequential steps to complete an Affidavit of Assets and Liabilities accurately and prepare it for signing and filing.

  • 01
    Gather documents: Collect bank statements, titles, loan statements, and valuation reports.
  • 02
    Complete fields: Enter names, addresses, asset descriptions, and liabilities.
  • 03
    Review accuracy: Verify amounts, ownership percentages, and supporting attachment references.
  • 04
    Notarize and serve: Sign before a notary and send copies to required parties.

How Electronic Preparation and Submission Typically Works

Typical online workflow converts a paper affidavit into a signed, notarized, and auditable electronic record ready for distribution and filing.

  • Upload Document: Attach the affidavit PDF or DOCX file to the platform.
  • Place Fields: Drag signature, date, and initial fields into position.
  • Set Signers: Add signer emails and define signing order.
  • Authenticate Signers: Choose email, SMS code, or KBA per risk level.

Configuring an eSubmission Workflow

Configure an e-submission workflow to include conditional fields, signer authentication, and notarization requirements before sending to all parties.

Field Configuration
Signer Authentication Select email link, SMS code, or knowledge-based verification.
Notary Requirement Enable remote notary or require in-person notarization as needed.
Conditional Fields Show asset schedules only when asset type is selected.
Attachments Require PDF bank statements or valuation reports for listed assets.

Platform Capabilities to Confirm

Ensure the eSignature platform supports required formats, integrations, and authentication options when preparing an affidavit for electronic notarization and distribution.

  • File Formats: PDF and DOCX supported
  • Integrations: Connectors for NetSuite and Salesforce
  • Authentication: SMS, email, KBA options

Security and Compliance Considerations

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest
Certifications: SOC 2 Type II and ISO 27001
Privacy Laws: GDPR and CCPA compliance
HIPAA: BAA available for covered entities
Audit Trail: Comprehensive timestamps and IP logs
Accessibility: WCAG 2.0 Level AA support

Timing Considerations and Common Deadlines

Be aware of timing obligations related to affidavits in litigation, bankruptcy, tax, and probate; certain filings and disclosures trigger strict deadlines and service requirements.

Divorce and Family Court:

Submit affidavit with initial financial disclosures per local rules and scheduling orders.

Bankruptcy Filings:

Include with bankruptcy schedules and respond to trustee inquiries promptly.

Probate Matters:

Provide asset list during estate administration and probate inventories.

Tax Inquiries:

Maintain records for at least 3 years per IRS rules.

Notary Timing:

Sign in the presence of the notary on the dated signature line.

Penalties and Legal Risks to Watch

Perjury Risk: Criminal penalties possible.
Civil Liability: Monetary damages exposure.
Incorrect Valuations: Asset overstatement issues.
Missed Deadlines: Filing penalties apply.
Notary Defect: Invalid acknowledgment risk.
Bankruptcy Consequences: Discharge denial possible.

Common Preparation Mistakes

  • Failing to attach supporting statements, recent account ledgers, titles, and appraisal reports commonly leads to creditor follow-up and delays in judicial or administrative review.
  • Using nicknames, initials, or inconsistent entity names across documents causes verification failures and may trigger requests for affidavits of identity or corrected filings.
  • Dates and monetary values entered without standardized formats (MM/DD/YYYY and USD) can lead to processing errors and audit rejections.
  • Weak signer authentication or missing consumer consent for electronic records can invalidate e-signature acceptance under ESIGN or state UETA provisions in disputes.

eSignature Vendor Comparison for Affidavit Workflows

Vendor pricing and feature comparison for eSignature platforms suitable for executing and storing Affidavit of Assets and Liabilities documents.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial Yes, 7-day trial Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Real-World Examples of How Affidavits Are Used

Practical examples show how trustees, attorneys, and lenders use the affidavit for asset verification, settlement negotiations, and bankruptcy schedules.

Real Estate Closing

A closing attorney uses the affidavit to confirm seller assets, exceptions, and encumbrances before recording the deed.

  • Reduces post-closing title objections and delays.
  • By attaching recent title reports and mortgage statements, the attorney provides a clear evidentiary record that expedites recording and reduces lender underwriting concerns, minimizing last-minute closing hold-ups and post-closing disputes.

Bankruptcy Disclosure

A debtor files the affidavit alongside bankruptcy schedules to disclose all assets, encumbrances, and contingent liabilities to the trustee and creditors.

  • Supports trustee valuation and creditor review.
  • Clear schedules and attachments reduce objections, provide documentation for exemptions, and streamline claim adjudication; corrections should be filed promptly with supporting evidence thereby to avoid sanctions or claims of concealment.

Frequently Asked Questions and Troubleshooting

Answers to common questions about preparing, signing, and submitting an Affidavit of Assets and Liabilities, including notarization, corrections, and admissibility concerns.


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