How to Fill Out and File a Declaration of Assets Form

To fill out and file a declaration of assets form, get the form your court requires for your specific case, list every asset and every debt at fair market value with records to back each entry, redact sensitive personal identifiers, sign under penalty of perjury, then file the completed form with the court and serve a copy on the opposing party. The form is a sworn financial disclosure, and it carries the same weight as testimony given from the witness stand.

Get the Right Form for Your Case

Three kinds of cases account for most asset declarations, and each uses a different form.

In bankruptcy, federal law requires every debtor to file a schedule of assets and liabilities as part of the petition.1Office of the Law Revision Counsel. 11 USC 521 – Debtor’s Duties The relevant document is Official Form 206A/B, which covers real and personal property and is available from the U.S. Courts website.2United States Courts. Official Form 206A/B – Schedule A/B: Assets — Real and Personal Property

In divorce, both spouses typically exchange financial disclosures early so the court can divide property fairly. The form comes from your state’s judicial council or family court system, usually through the local clerk’s office or the judicial branch website.

In probate, the executor or personal representative inventories the deceased person’s assets so debts can be paid and remaining property distributed to heirs. Again, the form is prescribed locally.

Using the wrong form, or an outdated version of the right one, wastes time and can delay your case. Confirm you have the current version before you write anything down.

List Every Asset and Every Debt

Treat the form as a complete financial snapshot on a single date. Courts do not care whether an asset seems minor or whether you think a debt belongs to someone else. If you have any ownership interest or any obligation, it goes on the form.

Real Property

List every piece of real estate in which you hold any interest: your home, rental properties, vacation property, vacant land, commercial buildings, timeshares, or partial ownership in real estate partnerships. For each entry, include the address, estimated current market value, and any outstanding mortgage or lien balance. If you own the property jointly with someone other than your spouse, note your percentage of ownership.

Vehicles and Personal Property

Vehicles, boats, motorcycles, and recreational vehicles each get their own line. Household furnishings, electronics, tools, firearms, artwork, antiques, jewelry, and collectibles also belong here. You do not need to inventory every fork in the drawer, but anything worth more than a few hundred dollars should appear. For bankruptcy filings, the federal form instructs filers to include property even when it has no book value, such as fully depreciated equipment.2United States Courts. Official Form 206A/B – Schedule A/B: Assets — Real and Personal Property

Financial Accounts and Investments

Report every financial account: checking, savings, money market, certificates of deposit, brokerage accounts, and any cash on hand. Include retirement accounts (401(k)s, IRAs, pensions, and deferred compensation plans) even if you cannot access the money without a penalty. Stocks, bonds, mutual funds, and annuities each get listed separately with their current balance or market value. Life insurance policies with a cash surrender value count as assets too.

Digital and Cryptocurrency Holdings

Cryptocurrency holdings are assets, and courts increasingly expect them on disclosure forms. List each type of digital currency separately (Bitcoin, Ethereum, stablecoins, or any other token) along with the exchange or wallet where it is held, the number of units, and the dollar value as of the disclosure date. Some state forms now include dedicated fields for digital assets; if yours does not, list them under investments or an “other property” category. Non-fungible tokens and other blockchain-based holdings follow the same rule.

Business Interests and Other Assets

Ownership stakes in any business, whether a sole proprietorship, partnership, LLC, or corporation, must appear on the form with your estimated equity value. Intellectual property, patents, royalty streams, pending tax refunds, money owed to you by others, and legal claims you have filed all qualify as assets. So do interests in trusts, whether you are a beneficiary or a trustee with discretionary control.

Liabilities

Every debt gets listed alongside the assets. Mortgages, car loans, student loans, credit card balances, personal loans, medical bills, unpaid taxes, and judgments against you all belong on the form. For each liability, note the creditor’s name, the total balance, and whether the debt is secured by any asset you have already listed. Reporting debts alongside assets lets the court calculate your actual net worth.

Pull Your Records Before You Start

Before you write a single number on the form, gather the documents that back up each entry. Judges and opposing counsel can challenge any figure that looks unsupported.

  • Federal and state tax returns for at least the two most recent years, including all schedules and W-2s.
  • Bank, brokerage, and retirement account statements for the most recent three to six months.
  • Recent pay stubs covering at least 60 days, or profit and loss statements if you are self-employed.1Office of the Law Revision Counsel. 11 USC 521 – Debtor’s Duties
  • Deeds, mortgage statements, recent property tax assessments, and any appraisals from the past few years.
  • Vehicle titles, plus loan payoff amounts if you still owe money on the vehicle.
  • Professional appraisals for artwork, jewelry, antiques, collectibles, or anything whose value is not obvious from a receipt.
  • Current balance statements for credit cards, student loans, medical bills, and personal loans.
  • Screenshots or exported statements from cryptocurrency exchange accounts and wallets showing holdings and values on the disclosure date.

Many courts require these records as exhibits to the declaration or expect them available for the opposing party to review on request. Keep copies of everything, organized by category, even if your jurisdiction does not require attachments at filing.

Enter Values at Fair Market Value

Most forms ask for fair market value: the price a willing buyer would pay a willing seller when neither is under pressure and both have reasonable knowledge of the relevant facts. Fair market value often differs from what you originally paid, what your insurer would pay to replace an item, or what you could get in a rushed sale.

For real estate, a recent appraisal or comparable sales data from your area gives the most defensible number. For vehicles, standard guides such as Kelley Blue Book or NADA provide widely accepted estimates. For fine art, rare collectibles, or business interests, a professional appraiser’s written opinion carries the most weight.

List the value as of the date you sign the form, unless your court’s instructions specify a different valuation date, such as the date of separation in a divorce. Be consistent: do not mix valuation dates across entries unless the form calls for it.

Marital or Separate Property

Divorce forms typically require you to indicate whether each asset or debt is marital (community) property or separate property belonging to one spouse. Property you owned before the marriage, inherited individually, or received as a personal gift generally qualifies as separate. Property acquired during the marriage with marital funds is usually marital. The distinction matters because courts divide marital property between the spouses but generally leave separate property with its owner. If you are unsure how to characterize an asset, note both possibilities and let your attorney or the court sort it out. Hiding the asset in the wrong column is far worse than flagging the ambiguity.

Redact Sensitive Personal Information

Court filings often become part of the public record, and financial disclosures are packed with the kind of data identity thieves want. Federal courts require parties to redact specific identifiers before filing any document. Under Federal Rule of Civil Procedure 5.2, you must limit the following:3Legal Information Institute. Federal Rules of Civil Procedure Rule 5.2 – Privacy Protection For Filings Made with the Court

  • Social Security and taxpayer ID numbers to the last four digits only.
  • Birth dates to the year only.
  • Financial account numbers to the last four digits only.
  • Names of minors to initials only.

Responsibility for redacting falls entirely on you and your attorney. The court clerk will not review your filing for compliance.3Legal Information Institute. Federal Rules of Civil Procedure Rule 5.2 – Privacy Protection For Filings Made with the Court If you file an unredacted document without asking that it be sealed, you waive the privacy protection for that information. State courts have similar rules, though the specific identifiers may differ. When in doubt, redact more rather than less. A judge can always ask you to provide full numbers under seal if needed.

Sign Under Penalty of Perjury

Your signature transforms the form into a sworn statement. By signing, you affirm that every entry is true and complete to the best of your knowledge. Federal perjury law treats a false sworn declaration the same as lying under oath: a conviction carries up to five years in prison.4Office of the Law Revision Counsel. 18 USC 1621 – Perjury Generally In bankruptcy specifically, knowingly concealing assets or making false statements on your schedules is a separate federal crime that also carries up to five years.5Office of the Law Revision Counsel. 18 USC 152 – Concealment of Assets; False Oaths and Claims Some jurisdictions require notarization in addition to the perjury declaration; check your form’s instructions.

File With the Court and Serve the Other Side

Submit the completed form through your court’s designated channel. Many courts now accept electronic filing through an online portal, and mailing a physical copy or hand-delivering it to the clerk’s office remains an option in most jurisdictions. Ask the clerk about any filing fee. Costs vary widely by case type and location. Always get a file-stamped copy for your records, whether you file electronically or in person.

Filing with the court is only half the job. You also need to serve a copy on the opposing party or their attorney. Depending on your jurisdiction’s rules, service can happen by mail, personal delivery, or electronic transmission. After service, you file a proof of service form with the court confirming that the other side received the disclosure, stating the date and method of delivery. Skipping this step, or doing it late, can result in sanctions, delays, or the court refusing to proceed until proper service is completed.

Keep the Disclosure Current

Filing once does not end your obligation. If your financial situation changes in any meaningful way while the case is pending (you sell property, open a new account, receive an inheritance, lose a job), you must update your disclosure. Federal Rule of Civil Procedure 26(e) requires parties to supplement or correct earlier disclosures in a timely manner whenever they learn the original information was incomplete or incorrect.6Legal Information Institute. Federal Rules of Civil Procedure Rule 26 – Duty to Disclose; General Provisions Governing Discovery State family courts impose a similar continuing duty through their own procedural rules.

A disclosure that was accurate on the day you signed it can become misleading two months later if your circumstances shift. Updating proactively protects you from accusations of concealment and keeps the court working with reliable numbers.

What Happens If You Leave Something Off

Courts treat concealed assets as a serious offense. The penalties escalate depending on how deliberate the omission was and how much money is involved.

  • In divorce cases, many courts have the power to award the entire value of a concealed asset to the other spouse as a penalty.
  • Judges can impose fines and order the dishonest party to pay the other side’s attorney fees incurred in uncovering the hidden property.
  • Lying on a sworn disclosure or disobeying a court order to produce financial records can lead to contempt charges, which carry fines and potential jail time.
  • Because the form is signed under penalty of perjury, intentional falsehoods expose you to federal perjury charges carrying up to five years in prison.4Office of the Law Revision Counsel. 18 USC 1621 – Perjury Generally
  • Concealing assets from a bankruptcy trustee is a separate federal crime under 18 U.S.C. § 152, also punishable by up to five years.5Office of the Law Revision Counsel. 18 USC 152 – Concealment of Assets; False Oaths and Claims
  • If hidden assets surface after a divorce is finalized or a bankruptcy case is closed, the court can reopen the case and redistribute property, often leaving the dishonest party worse off than if they had disclosed everything from the start.

Complete honesty is the legal requirement, and it is the only approach that does not create a second, worse legal problem on top of the one you already have.