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Affidavit Of Assets for Canada

Affidavit Of Assets Template for Canada

An Affidavit of Assets is a formal, sworn document used in Canadian legal proceedings that provides a comprehensive declaration of an individual's financial position, including all assets, liabilities, and financial interests. This document, which must comply with both federal and provincial legislation regarding sworn statements, serves as a legally binding declaration of a person's complete financial picture at a specific point in time. It is commonly used in various legal contexts including bankruptcy proceedings, divorce cases, estate administration, and other situations requiring full financial disclosure under Canadian law.

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Affidavit Of Assets

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What is a Affidavit Of Assets?

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.

What sections should be included in a Affidavit Of Assets?

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

What sections are optional to include in a Affidavit Of Assets?

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

What schedules should be included in a Affidavit Of Assets?

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Canada

Document Type

Affidavit

Cost

Free to use
Relevant legal definitions


































Clauses






























Relevant Industries

Legal Services

Financial Services

Banking

Insurance

Real Estate

Estate Planning

Bankruptcy Services

Family Law

Wealth Management

Public Administration

Relevant Teams

Legal

Finance

Wealth Management

Credit Risk

Compliance

Administrative Services

Customer Service

Document Processing

Risk Management

Advisory Services

Relevant Roles

Lawyer

Paralegal

Financial Advisor

Estate Planner

Bankruptcy Trustee

Legal Assistant

Court Clerk

Commissioner of Oaths

Judge

Notary Public

Financial Planner

Wealth Manager

Bank Manager

Credit Counselor

Legal Administrator

Industries








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