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Affidavit Of Means for Hong Kong

Affidavit Of Means Template for Hong Kong

An Affidavit of Means is a formal sworn statement used in Hong Kong's legal system that provides a comprehensive declaration of an individual's financial position. This document, governed by Hong Kong law including the High Court Ordinance and Oaths and Declarations Ordinance, requires detailed disclosure of all assets, liabilities, income, and expenses. It serves as a crucial piece of evidence in various legal proceedings, particularly in matrimonial matters, bankruptcy cases, and other situations requiring thorough financial disclosure. The document must be sworn or affirmed before a Commissioner for Oaths or solicitor in Hong Kong, making it a formal legal document with serious consequences for false declarations.

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What is a Affidavit Of Means?

The Affidavit of Means is a fundamental document in Hong Kong's legal framework, primarily used when a court or legal proceeding requires detailed disclosure of an individual's financial circumstances. This sworn statement is commonly required in divorce proceedings, bankruptcy cases, asset disputes, and maintenance applications. The document must comply with Hong Kong's legal requirements, particularly the High Court Ordinance and Rules of the High Court. It includes comprehensive information about the deponent's financial position, including income sources, employment details, assets, liabilities, regular expenses, and other financial obligations. The Affidavit of Means must be sworn or affirmed before an appropriate authority, and false declarations can result in serious legal consequences. The document serves as a critical tool for courts and involved parties to assess financial capacity and make informed decisions in legal proceedings.

What sections should be included in a Affidavit Of Means?

1. Opening Statement and Personal Details: Formal opening declaring the deponent's name, address, occupation, and the fact that they are swearing/affirming the affidavit

2. Employment and Income: Details of current employment status, employer details, salary, and all other sources of regular and irregular income

3. Regular Monthly Expenses: Comprehensive breakdown of all regular monthly expenditures including household expenses, utilities, insurance, transportation, etc.

4. Assets: Complete list of all assets owned including real estate, vehicles, bank accounts, investments, and personal valuable items

5. Liabilities: Details of all debts and financial obligations including mortgages, loans, credit card debts, and other liabilities

6. Summary of Net Worth: Overall calculation showing total assets minus total liabilities

7. Declaration of Truth: Formal closing statement declaring that the contents are true and accurate to the best of the deponent's knowledge

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

1. Business Interests: To be included if the deponent owns or has interests in any businesses, detailing ownership percentage, value, and income derived

2. Dependent Information: Required when the affidavit is being used for matters involving child support or maintenance, detailing dependents' needs and expenses

3. Investment Portfolio: Detailed section for those with significant investments, breaking down different investment types and their current values

4. Expected Changes in Financial Position: Include when there are known future changes to income, expenses, or assets that may affect the financial position

5. Trust Interests: Required when the deponent is a beneficiary or trustee of any trusts

6. Pension and Retirement Accounts: Detailed section for those with significant pension or retirement savings requiring separate detailed disclosure

What schedules should be included in a Affidavit Of Means?

1. Schedule A - Income Documentation: Copies of pay slips, tax returns, and other income verification documents for the past 12 months

2. Schedule B - Bank Statements: Recent bank statements from all accounts for the past 3-6 months

3. Schedule C - Property Valuations: Recent valuations or estimates for real estate and other significant assets

4. Schedule D - Expense Records: Supporting documentation for major regular expenses

5. Schedule E - Investment Statements: Recent statements for all investment accounts and portfolios

6. Schedule F - Liability Documentation: Current statements for all loans, mortgages, and other debts

7. Schedule G - Business Financial Documents: Financial statements and valuations for any business interests

Authors

Alex Denne

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

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Affidavit

Cost

Free to use
Relevant legal definitions






























Clauses

























Relevant Industries

Legal Services

Financial Services

Banking

Professional Services

Real Estate

Family Law

Insolvency and Bankruptcy

Wealth Management

Corporate Services

Relevant Teams

Legal

Litigation

Family Law

Corporate

Compliance

Documentation

Administration

Finance

Private Client Services

Dispute Resolution

Relevant Roles

Legal Associate

Partner (Law Firm)

Family Law Lawyer

Bankruptcy Lawyer

Legal Executive

Commissioner for Oaths

Paralegal

Corporate Lawyer

Financial Advisor

Accountant

Legal Secretary

Compliance Officer

Court Clerk

Judicial Clerk

Legal Assistant

Industries







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