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FORMAT OF AFFIDAVIT OF ASSETS, INCOME AND EXPENDITURE TO BE FILED BY THE BOTH PARTIES

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GUIDELINE

Guideline for Drafting the Format of Affidavit of Assets, Income, and Expenditure

The Affidavit of Assets, Income, and Expenditure is typically filed in family court matters, such as divorce, maintenance, or child custody cases, where financial disclosure is required by both parties. It helps the court assess the financial standing of each party to determine appropriate orders for maintenance, alimony, or child support.

Key Elements:

  • Personal Information: Start with the full name, address, and relationship to the other party.
  • Assets: Detail all assets, including immovable properties, vehicles, bank accounts, investments, and valuable items.
  • Income: Provide information on all sources of income, including salary, business income, interest, dividends, and other earnings.
  • Expenditure: List monthly and annual expenditures, covering living expenses, education, medical costs, and liabilities.
  • Supporting Documents: Attach copies of relevant documents like bank statements, tax returns, and property deeds.

Common Mistakes to Avoid:

  1. Omission of Assets or Income: Failing to disclose all assets or income sources can lead to legal consequences.
  2. Inaccurate Information: Providing incorrect or misleading information may result in penalties or unfavorable judgments.
  3. Lack of Supporting Documents: Not attaching necessary documents weakens the affidavit.
  4. Inconsistent Details: Ensure that all financial details are consistent with previous disclosures and filings.

A clear, complete, and accurate affidavit is essential for a fair assessment by the court.

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