The Illinois Affidavit of assets and liabilities is a legally binding document that is used in the State of Illinois to provide an accurate and comprehensive list of the assets and liabilities of an individual or business. It is typically used in conjunction with other legal documents such as divorce proceedings, loan applications, or bankruptcy proceedings. The affidavit must be filed with the appropriate court and must be signed by the person providing the information. The affidavit must list all assets and liabilities of the person or business. Assets include items such as real estate, vehicles, investments, and bank accounts. Liabilities include outstanding debts, loans, and mortgages. The affidavit must also include the estimated value of each asset and liability. There are four types of Illinois Affidavit of Assets and Liabilities: Individual, Joint, Corporation, and Partnership. The individual affidavit is used for the assets and liabilities of a single person. The joint affidavit is used for the assets and liabilities of two or more people. The corporation affidavit is used for the assets and liabilities of a corporation. The partnership affidavit is used for the assets and liabilities of a partnership.
Illinois Affidavit of assets and Liabilities
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FAQ
A financial affidavit is a written statement that shows your income, expenses, assets, and liabilities. A financial affidavit is a complete picture of your financial situation at the time that you (the affiant), signs the document. Financial affidavits are presented to courts under oath.
It is a document used by the judge to assess your income, expenses, assets, and debts. The information you provide in the affidavit must be true.
Where a party has not yet filed a federal or state income tax return for the prior calendar year, the last filed year's return shall be served upon the opposing parties as well as all W-2's, 1099's and K-1's received necessary for preparation of the prior year's return.
When you are getting a divorce in Illinois, the courts require that each spouse submit a full financial disclosure in order to ensure the final divorce settlement is fair for both sides. One of the most critical documents that both parties must submit is a financial affidavit.
Rule 133 - Pleading Breach of Statutory Duty; Judgment or Order; Breach of Condition Precedent (a)Statutory Duty. If a breach of statutory duty is alleged, the statute shall be cited in connection with the allegation.
For example, in Illinois, the rules generally require an ?affidavit? be notarized, though there are specific types of affidavits to which the requirement does not apply, such as affidavits being filed in support of a motion for summary judgment or a motion for involuntary dismissal.
All documents filed or served in any cause by an attorney upon another party shall bear the attorney's name, business address, e-mail address, and telephone number. The attorney must designate a primary e-mail address and may designate no more than two secondary e-mail addresses. (2)Self-Represented Litigants.
13.3. 1 Mandatory Disclosure. When further relief is sought from the court and a material change of circumstances has occurred, an updated completed ?Financial Affidavit? must be served on the other party no less than seven (7) days prior to any hearing.