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A Personal Financial Statement provides a clear overview of your assets, liabilities, income, and expenses. It’s often required for loan applications or legal proceedings, and helps evaluate your financial standing.
Last Update July 15th, 2025
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A Personal Financial Statement is a summary of your financial situation at a specific point in time. It includes what you own (assets), what you owe (liabilities), and your overall net worth.
This legal document is commonly used to determine creditworthiness by:
You may also need it during legal processes like divorce settlements or estate planning.
In business, it helps partners or investors assess your personal backing.
Completing a Personal Financial Statement form gives you insight into your finances. It gives you an idea of your current situation, and show where you might need to make some adjustments.
The document is especially useful if you’re:
LawDistrict provides a ready-to-use Personal Financial Statement template, so you can quickly make a professional and comprehensive document.
If you’re wondering what a Personal Financial Statement looks like, you should take a look at a completed version of the document. This can give you a better idea of structure, tone, and formatting that’s typically used when writing these statements.
Wondering how to make a financial statement? Here’s what to include in your form:
Your full name, address, contact info, and social security number. Also include employment status and employer details.
Give a detailed summary of your personal assets, including:
Next, mention any of your financial liabilities, such as:
Specify any sources of income:
List your outgoing expenses:
Calculate total assets minus total liabilities. This figure is your current net worth.
Any obligations you’re responsible for only if another party fails to pay. For example, a co-signed loan.
Here are the most common questions LawDistrict users have before they begin their draft of a Personal Financial Statement.
“Pledged” refers to any assets that you have promised as collateral for a loan or debt. These assets are tied to a financial obligation, so they’re not freely available.
You can draft your own Personal Financial Statement using our template as a guide. Consider having a legal professional review this document when you’ve finished. They can make sure that it meets all requirements in your jurisdiction.
Financial Statements only reflect your status at a specific point in time.
You should update your document if you're applying for a new loan or if there are any significant changes to your financial situation.
