Declaration Of Assets And Liabilities

Declaration Of Assets And Liabilities Template for Philippines

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Key Requirements PROMPT example:

"I need a Declaration of Assets and Liabilities for my new position as a Regional Director in a Philippine government agency, including sections for extensive real estate holdings and business interests, to be filed by January 2025."

Document background

The Declaration of Assets and Liabilities is a crucial document in the Philippine legal framework, mandated by both the 1987 Constitution and Republic Act 6713 (Code of Conduct and Ethical Standards for Public Officials and Employees). This declaration is required to be filed by all public officials and employees, from the President of the Philippines to the lowest-ranking government employee. The document must be submitted upon assumption of office, annually thereafter, and upon separation from service. It requires comprehensive disclosure of all assets (including real properties, personal properties, and investments), liabilities, business interests, and financial connections of both the declarant and their spouse. The primary purpose of this declaration is to promote transparency, prevent corruption, and maintain public trust in government service. Failure to file or providing false information can result in administrative and criminal penalties.

Suggested Sections

1. Personal Information: Declarant's full name, position/designation, agency/office, address, and other identifying information

2. Declaration Statement: Formal statement declaring that the information provided is true and correct

3. Real Properties: Detailed list of all real estate properties owned, including location, assessed value, current fair market value, acquisition cost, and year acquired

4. Personal Properties: List of vehicles, jewelry, investments, and other personal assets with their corresponding values

5. Liabilities: All outstanding debts and obligations, including mortgages, loans, and other financial commitments

6. Business Interests: Details of business ownerships, shareholdings, and financial connections

7. Relatives in Government: List of relatives within the fourth degree of consanguinity or affinity in government service

8. Net Worth Calculation: Computation of total assets minus total liabilities

9. Certification: Sworn statement and signature portion, including date and place of execution

Optional Sections

1. Foreign Assets: Section for declaring assets located outside the Philippines, used when the declarant has overseas properties or investments

2. Trust Agreements: Details of any trust arrangements where the declarant is either a trustor or beneficiary

3. Previous Year Comparison: Comparative analysis of assets and liabilities with the previous year's declaration, used for annual updates

4. Spouse's Information: Separate section for spouse's assets and liabilities, used when filing a joint declaration

5. Dependent Children's Properties: Declaration of properties under the names of unmarried children below 18 living in declarant's household

Suggested Schedules

1. Schedule A - Real Properties: Detailed itemization of all real property assets with supporting documentation

2. Schedule B - Personal Properties: Itemized list of personal properties with supporting documentation

3. Schedule C - Business Interests and Financial Connections: Detailed information about business ownerships and financial relationships

4. Schedule D - Liabilities: Detailed list of all liabilities with supporting documentation

5. Schedule E - Government Securities: List of government securities, bonds, and similar investments

6. Appendix 1 - Supporting Documents: Copies of relevant titles, registration papers, and other supporting documents

7. Appendix 2 - Tax Declarations: Copies of relevant tax declarations for real properties

8. Appendix 3 - Acquisition Documents: Proof of acquisition documents for major assets

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Government/Public Sector

Banking and Finance

Education

Healthcare

Military and Defense

Law Enforcement

Judiciary

State-Owned Corporations

Regulated Industries

Public Utilities

Transportation

Energy

Relevant Teams

Legal

Compliance

Human Resources

Finance

Internal Audit

Risk Management

Corporate Governance

Administrative Services

Records Management

Ethics Office

Relevant Roles

Government Department Head

Public Official

Civil Service Employee

State University Professor

Military Officer

Police Officer

Judge

Government Bank Officer

State Corporation Executive

Public School Teacher

Municipal Mayor

City Administrator

Government Hospital Administrator

Public Utility Executive

Regulatory Agency Director

Government Compliance Officer

State Auditor

Public Prosecutor

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