An Illinois Affidavit of Assets and Liabilities is a legal document which is used as part of a court proceeding or other legal action in the state of Illinois. It is a sworn statement of a party’s assets and liabilities, which is used to determine financial arrangements and settlements. Assets listed on the affidavit include cash, investments, real estate, and other property owned by the party. Liabilities listed include loans, mortgages, credit card debt, tax debt, and other outstanding financial obligations. The document must be signed in the presence of a notary or other public official in order to be valid. There are two types of Illinois Affidavit of Assets and Liabilities: the short form and the long form. The short form affidavit is used when only basic information about the assets and liabilities is needed, such as amounts owed and current values. The long form affidavit is more detailed and includes additional information about the assets and liabilities, including ownership, title, and other legal matters. Both forms are available for download from the Illinois Department of Financial and Professional Regulation website.