Affidavit Of Net Worth

Affidavit Of Net Worth Template for Singapore

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Key Requirements PROMPT example:

"I need an Affidavit of Net Worth for my divorce proceedings in Singapore, specifically detailing my business interests in three tech startups and multiple investment properties across Asia, to be filed by March 2025."

Document background

An Affidavit Of Net Worth is a crucial legal instrument in Singapore's legal system, primarily used when full financial disclosure is required by law or court order. This document provides a detailed snapshot of an individual's entire financial position, including all assets, liabilities, income sources, and regular expenses. It is commonly required in divorce proceedings, bankruptcy cases, asset disputes, and various other legal matters where financial transparency is essential. The document must be sworn before a Commissioner for Oaths and carries serious legal implications for false declarations.

Suggested Sections

1. Personal Information: Deponent's full name, NRIC/passport number, address, occupation

2. Statement of Truth: Declaration that contents are true and accurate

3. Income Details: All sources of income, including salary, investments, rental income

4. Assets Declaration: Comprehensive list of all assets owned, including real estate, vehicles, bank accounts, investments, and personal property

5. Liabilities Declaration: All debts and financial obligations including mortgages, loans, credit card debts, and other financial commitments

Optional Sections

1. Business Interests: Used when deponent has ownership in businesses or companies, including details of shareholdings and business valuations

2. Trust Interests: Required when deponent is beneficiary or trustee of any trusts, including details of trust assets and benefits

3. Pending Litigation: Include when there are ongoing legal proceedings affecting assets or potential financial implications

Suggested Schedules

1. Schedule A - Bank Statements: Recent statements from all bank accounts showing current balances and transactions

2. Schedule B - Property Valuations: Professional valuations of all real estate assets owned

3. Schedule C - Investment Portfolios: Detailed statements showing current investment holdings and their market value

4. Schedule D - Vehicle Registration: Documentation for owned vehicles including registration papers and market valuations

5. Schedule E - Business Financial Statements: If applicable, recent financial statements of owned businesses including balance sheets and profit/loss statements

Authors

Alex Denne

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

alex.den.21@genieai.co

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Let's create your Affidavit Of Net Worth

Authors

Alex Denne

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