Form 65XX – Affidavit Verifying Accounts

Jurisdiction: Country: Canada | Province/State: Prince Edward Island

What is a Form 65XX – Affidavit Verifying Accounts?

Form 65XX – Affidavit Verifying Accounts is a sworn statement you file with the court to confirm that an attached set of accounts is complete and accurate. In Prince Edward Island, you use it to “verify” formal accounting records for an estate, trust, guardianship, power of attorney, receivership, or other fiduciary role. The affidavit is the legal cover page for your detailed accounts. It tells the court and interested parties that you made full disclosure, kept proper records, and that the numbers in the attached schedules are true to the best of your knowledge.

You sign this affidavit under oath or affirmation before a commissioner for oaths or a notary public. The accounts you verify show all money and property that came in, all payments made, assets remaining, and your claim for compensation if any. You also attach vouchers (supporting documents) and explain any losses or unusual transactions.

Who typically uses this form?

Executors and administrators of estates use it when passing their accounts. Trustees of testamentary and inter vivos trusts use it for interim or final accounts. Guardians, committees, and attorneys under a power of attorney may need it when ordered to account, when resigning, or on transition to a new representative. Court‑appointed receivers or similar fiduciaries also use it to verify accounts covering their period of control.

You would use this form if you must obtain court approval for your accounts, if beneficiaries demand a formal passing of accounts, or if a court order or statute requires you to account. You also use it if you want a clean, court‑approved closure of your role. A passed account protects you. Once the court approves it, your handling of funds for that period becomes settled, subject to appeal only in limited cases.

Typical scenarios:

• An executor completing the first year of estate administration.
• A trustee providing a five‑year account to beneficiaries.
• A guardian stepping down and handing control to a new guardian.
• An attorney under a power of attorney providing a final account after the donor’s death or the end of the attorney’s role.
• You may also file it when there are disputes over expenses or compensation, and you want the court to adjudicate.

When Would You Use a Form 65XX – Affidavit Verifying Accounts?

You use this affidavit when you need to verify that your financial accounting as a fiduciary is accurate and complete. You rely on it in estate matters when you want the court to pass your accounts, either because the administration is ending or because someone is challenging your handling of funds. If you are an executor, you might file it after the first year to cover all receipts and disbursements since death, then seek approval to distribute the balance and close the file. You also file it if the beneficiaries refuse to sign releases. Passing accounts with a verifying affidavit often resolves stalemates.

Trustees use it when the trust deed or a court order requires periodic accounts, or when the trust is winding up. A trustee might file an interim account every two or three years where the trust is long‑term, such as for a minor or a spouse. If a beneficiary alleges overpayment of fees or imprudent investments, the trustee uses this form and the attached schedules to ask the court to approve the investment approach, the expenses, and the compensation.

Guardians, committees, and attorneys under a power of attorney use it when they are called to account for an incapacitated person’s or donor’s funds. The court may order an interim account if family members raise concerns, or a final account when the role ends. The affidavit verifies the care and expenditure decisions, explains the balance on hand, and sets out any claims for reimbursement. It provides a transparent record that can be tested and approved.

Receivers, liquidators, or similar court‑appointed fiduciaries use it to demonstrate control, collection, and distribution of funds. The court expects a clear reconciliation of what came in and what went out, plus a statement of the remaining balance. The verifying affidavit gives the court a simple way to confirm the integrity of the numbers before making further orders.

Finally, you might use this affidavit if a statute or rule requires you to verify accounts before a registrar will review them. Even if you expect informal approval from beneficiaries, the affidavit and accounts can be a prudent step when the numbers are complex, or you want formal protection from future claims.

Legal Characteristics of the Form 65XX – Affidavit Verifying Accounts

This form is an affidavit, so it is a sworn or affirmed statement. It is legally binding because you make it under oath before a person authorized to administer oaths. You declare that the attached accounts are true and correct to the best of your knowledge and belief. False statements can expose you to penalties, including contempt of court or perjury. That legal risk gives the affidavit weight and signals to the court that you took care in preparing your accounts.

Enforceability comes from three layers. First, the oath: you swear that your schedules and totals reflect real transactions, supported by records. Second, the evidentiary role: the affidavit and attached schedules become evidence that the court can rely on to pass your accounts. If beneficiaries object, the affidavit frames the issues and supports your position. Third, the court order: when the court passes your accounts, its order approves your receipts, disbursements, investments, distributions, and compensation for the period. That approval is binding unless set aside on appeal. It protects you from later re‑litigation of the same accounting period, except in cases of fraud or material non‑disclosure.

General legal considerations include proper notice to interested parties, the integrity of your records, and the quality of your supporting vouchers. Interested parties typically include residuary beneficiaries, specific legatees affected by the accounting period, contingent beneficiaries if their interests may be affected, and sometimes creditors with outstanding claims. You should serve them with a notice of passing of accounts and a copy of your accounts, or obtain signed consents. If you have complete, signed releases and all funds have been distributed, a formal passing may be unnecessary. But when you seek a court order, the affidavit is essential.

The court expects segregation of trust or estate funds from your own. Using a dedicated estate or trust account is standard practice. Mixing funds is a red flag and may lead to disallowed expenses. The court also expects prudence in investments, adherence to legal duties, and fairness in allocating receipts and expenses between income and capital where relevant. If you claim compensation, you should base it on time spent, complexity, risk assumed, and results achieved, consistent with local practice. The affidavit often includes a paragraph justifying your fee and referencing a detailed time summary in the schedules.

Finally, the affidavit and accounts become part of the court record. Personal financial details may appear. You should avoid including full account numbers and protect sensitive information by using partial identifiers where allowed. Keep originals of vouchers in case the court or a party requests to inspect them.

How to Fill Out a Form 65XX – Affidavit Verifying Accounts

Follow these steps to prepare, verify, and file your accounts using Form 65XX. The goal is clarity. Make it easy for the court and beneficiaries to follow the money.

1) Confirm your role and period of account

• Identify your fiduciary role: executor, administrator, trustee, guardian, committee, attorney, or receiver.
• Define the accounting period. For an estate, this often runs from the date of death to a recent cut‑off date, such as year‑end. For a trustee, use the financial year or the period since the last passed account.
• State if this is an interim account or a final account.

2) Assemble your records and vouchers

• Gather bank statements, cancelled cheques, deposit records, investment statements, invoices, receipts, legal bills, and tax assessments.
• Number your vouchers in sequence. Use those numbers in your schedules.
• Reconcile the opening balance, all receipts, all disbursements, and the ending balance to the bank and investment statements.

3) Prepare your schedules

Create clear schedules. Use simple headings, consistent dates, and running totals.

• Schedule A – Inventory or opening position: List assets on hand at the start of the period, with values and account numbers partially masked. For an estate’s first account, this reflects the initial inventory. For later accounts, it reflects the assets on hand at the end of the last passed or approved account.
• Schedule B – Receipts: Show date, source, description, voucher number (if any), and amount. Include income (interest, dividends, rent), asset sales, tax refunds, and contributions. Note whether each item is income or capital when relevant.
• Schedule C – Disbursements: Show date, payee, description, voucher number, and amount. Include funeral costs, debts, professional fees, taxes, maintenance costs, distributions, and investment purchases. Allocate between income and capital where required.
• Schedule D – Investments and assets on hand: List current holdings at the end date, with cost, market value, and account identifiers masked. Include cash balances by account with bank statement references.
• Schedule E – Statement of compensation: Set out your fee request. Include time entries, hourly rates (if used), a summary by task, and any percentage method applied. Attach a time log as an exhibit if detailed.
• Schedule F – Distributions and beneficiaries: List each beneficiary, entitlement type, amounts advanced, and amounts remaining. Match totals to disbursements and assets on hand.
• Schedule G – Reconciliation: Provide a simple bridge from opening position plus receipts, minus disbursements, equals assets on hand. Ensure this ties precisely to bank and investment statements at the period end.
• Schedule H – Notes and explanations: Explain unusual items, lost vouchers, asset write‑downs, or reasons for delay. If an expense benefits you personally, explain the necessity and authorization.

4) Draft the affidavit body

The affidavit should be short and precise. Use numbered paragraphs. Include:

• Your identity and capacity: State your full name, address for service, and role. If you act with another person, name each fiduciary.
• Your authority: State how and when you were appointed (e.g., date of grant of probate or appointment order). If there was a change in fiduciaries, explain the transition date.
• Period covered: State the start and end dates of the account and whether it is interim or final.
• Verification statement: Declare that the attached accounts and schedules are true and correct to the best of your knowledge and belief, and that you kept proper records.
• Vouchers: State that you have attached true copies of vouchers supporting the transactions, or that vouchers are available for inspection. If any vouchers are missing, explain why.
• Compensation: If you claim compensation, state that Schedule E sets out the basis and amount claimed, and that you believe it is fair and reasonable for the work done.
• Notice and consents: Confirm that you served the accounts on interested parties, or attach signed consents or waivers. Identify who was served and how.
• Taxes and compliance: Confirm that required returns were filed and taxes paid, or that provisions have been made. Attach proof where helpful.
• Relief sought: State that you seek an order passing the accounts and approving your compensation and disbursements, and any other relief needed (such as approval to distribute or be discharged).

5) Set up the court caption and style

• Use the correct court name and division.
• Include the court file number if one exists.
• Use a clear style of cause. For an estate, use: “In the matter of the Estate of [Full Name], deceased.” For a trust, use the trust name and date.
• Add your name as the applicant for passing of accounts if a separate application is required.

6) Attach the schedules as exhibits

• Mark each schedule as an exhibit to the affidavit. Label them “Exhibit A,” “Exhibit B,” and so on, matching the labels used in the affidavit body.
• On the first page of each exhibit, include an exhibit title block with the deponent’s name, date sworn, and the commissioner’s signature or stamp as required.
• Ensure page numbers run continuously or that each schedule has its own pagination. Cross‑reference totals so the court can follow.

7) Swear or affirm the affidavit properly

• Do not sign until you are in front of a commissioner for oaths, notary public, or other authorized official.
• Bring government photo ID. The commissioner may need to see originals of key exhibits.
• The jurat (the statement at the end) must show the place and date of commissioning, the deponent’s signature, and the commissioner’s signature, name, and capacity. If commissioning is done remotely, follow the required process exactly and ensure the jurat reflects remote commissioning where applicable.
• If multiple fiduciaries are deponents, each must sign and swear or affirm, either together or in counterparts. If signing separately, ensure each affidavit references identical schedules and dates.

8) Review for accuracy and completeness

• Confirm math in each schedule and the reconciliation. Totals must match to the dollar.
• Check that all payees and descriptions are clear. Avoid abbreviations that an outsider would not understand.
• Ensure bank and investment statement balances tie to Schedule D as of the period end.
• Verify that beneficiary names are correct and consistent across all documents.
• If any conflict of interest exists, disclose it and explain the safeguards or approvals obtained.

9) Serve interested parties

• Serve copies of the affidavit and all schedules on beneficiaries, co‑fiduciaries, and any other interested parties. Use a clear cover letter that states the return date or timeline to object.
• Keep proof of service. If you obtained consents instead, attach signed consents as a schedule or exhibit.

10) File with the court and seek a hearing date if needed

• File the original sworn affidavit and attached exhibits with the court registry. Pay the filing fee if applicable.
• Request a hearing date if the process requires one. If all parties consent and there are no objections, the matter may proceed in writing. Confirm the local practice with the registry.
• Bring original vouchers to any hearing in case the judge or registrar wants to review them.

11) Prepare for objections or questions

• If a beneficiary serves a notice of objection, prepare a reply affidavit if needed. Be ready to explain investment choices, expense decisions, and your compensation.
• Consider voluntary adjustments to resolve minor issues. The court appreciates practical solutions that protect beneficiaries while moving administration forward.

12) After the order passes the accounts

• Obtain a certified copy of the order. Share it with beneficiaries and your bank if required.
• Pay approved compensation and professional fees as authorized.
• Complete distributions authorized by the order. Update your records.
• If it is a final account, seek discharge language if not already granted. If interim, calendar the next accounting period.

Practical tips to avoid common mistakes:

• State the accounting period clearly at the top of each schedule.
• Use a dedicated estate or trust account. Do not mix funds.
• If you reimburse yourself for an expense, include both the original receipt and proof of payment.
• Distinguish between income and capital. Some beneficiaries have rights to income only.
• Explain any valuation changes for investments or property. Use a consistent method and show dates.
• For real property, show rent received, expenses, and net results. Attach a closing statement if sold.
• For tax items, show assessments, refunds, and payments. Tie them to receipts and disbursements.
• When in doubt, disclose and explain. Transparency makes passing of accounts faster.

If your situation is unusual, add a short narrative in Schedule H. For example, if the estate held a family business that was sold at a loss after an arms‑length marketing process, summarize the steps you took to get the best price. Attach an appraisal or broker opinion as an exhibit. If you used professional advisors, include their invoices and a short statement of services.

Your goal is to make your numbers easy to follow and fully supported. A clear affidavit, clean schedules, and complete vouchers reduce questions, speed approval, and protect you as a fiduciary.

Legal Terms You Might Encounter

• Affidavit means a written statement of facts you swear or affirm are true. In this form, you confirm the accuracy of the accounts you filed. Your signature must be witnessed by an authorized official.
• Deponent is the person who swears or affirms the affidavit. If you kept the accounts, you are the deponent. You take personal responsibility for the contents.
• Accounts are the detailed records of money received and paid out. They also show assets on hand and any distributions. This form verifies those figures.
• Receipts and disbursements are the inflows and outflows of money. Receipts include deposits, interest, and sale proceeds. Disbursements include payments, fees, and expenses.
• Vouchers are documents that prove each entry in the accounts. They include invoices, receipts, bank statements, and canceled cheques. You refer to them when verifying the accounts.
• Exhibit is a document attached to the affidavit and marked with a letter. Your account schedules are usually exhibits to this form. Each exhibit needs a label and a statement by the official who witnesses your oath.
• Jurat is the formal statement at the end of the affidavit. It records the date, location, and the name and title of the official who took your oath or affirmation. It proves you swore or affirmed properly.
• Swear or affirm refers to how you declare the contents are true. Swearing uses an oath; affirming does not refer to a religious belief. Both carry the same legal weight.
• Commissioner for Oaths or Notary Public is the official who can take your oath or affirmation. They verify your identity and watch you sign. They also sign and stamp the jurat and any exhibits.
• Balance on hand is the amount remaining after all recorded receipts and disbursements. It should match your closing bank balance and cash on hand. You confirm this figure in the affidavit.
• Passing of accounts is the process where a court or authority reviews your accounts. This affidavit supports that review by confirming the accounts are complete and accurate. It helps the reviewer rely on your numbers.

FAQs

Do you need to attach bank statements and invoices?

Yes. Attach the accounts as exhibits and keep the supporting vouchers ready. You do not need to attach every voucher unless required, but the reviewer may ask to see them. Include bank statements that cover the entire accounting period.

Do you have to swear the affidavit in person?

Usually, yes. You must sign in front of an authorized official who confirms your identity. Remote commissioning may be available, but you must follow all rules and identification steps. Ask the official how they conduct the process.

Do you list every transaction, or can you summarize?

List every transaction or provide a clear schedule with totals and cross‑references. Summaries are acceptable only if they link to detailed ledgers or vouchers. The goal is traceability from opening balance to closing balance.

Do you include assets that did not move during the period?

Yes. Show assets on hand at the start and end, even if unchanged. Provide carrying values and, if sold later, show sale details in the period they occur. The reviewer needs a full picture, not just movement.

Do you need to serve the affidavit on anyone?

Often, yes. Interested persons may include beneficiaries, creditors, or parties to the proceeding. Check your file’s requirements. If service is required, document when, how, and to whom you sent it.

Can you correct an error after swearing the affidavit?

Yes, but not by altering the signed document. Prepare a corrected or supplementary affidavit. Re-swear or re-affirm it and file it. Notify the people who received the original.

Do you include your fees and reimbursements in the accounts?

Yes. Show fees, commissions, and reimbursements as disbursements. Attach calculations and vouchers. If approvals are required, flag them and be ready to justify the amounts.

Do you need to include interest calculations?

Yes, if any account bears interest or you hold funds over time. Show the rate, the principal, the period, and the resulting interest. Reconcile interest entries to bank statements.

Checklist: Before, During, and After the Form 65XX – Affidavit Verifying Accounts

Before signing:

• Identify the accounting period start and end dates.
• Gather opening balances for all accounts and cash.
• Reconcile each bank account for the full period.
• Collect bank statements, passbooks, and investment statements.
• Assemble invoices, receipts, and canceled cheques for each disbursement.
• Prepare a ledger of receipts and disbursements with dates and payees.
• List assets on hand at the start and end, with values.
• Prepare schedules for distributions to beneficiaries or creditors.
• Compile interest calculations and fee calculations, if any.
• Confirm all math and subtotals; test the closing balance.
• Cross-reference each entry to a voucher number or document.
• Draft exhibit schedules and label them in order (A, B, C…).
• Review any prior orders or approvals affecting the accounts.
• Verify names, roles, and the file number match the underlying case.
• Book an appointment with an authorized official for commissioning.
• Bring acceptable ID and any required originals to the appointment.

During signing:

• Check the style of cause, file number, and court location fields.
• Confirm your full legal name and role are correct.
• Verify the accounting period dates in the affidavit body.
• Confirm exhibit letters match the labels on the attached schedules.
• Ensure each page is numbered and in order.
• Initial any handwritten corrections near the change and in the margin.
• Do not sign until the official is present and instructs you.
• Sign each exhibit if instructed; ensure the official signs the exhibit page.
• Confirm the jurat shows the correct date, location, and official’s title.
• Ask for the official’s stamp or seal on the jurat and exhibits.
• Review the final package to make sure nothing is missing.

After signing:

• Make a clean scan of the entire package, including exhibits and jurat.
• File the affidavit in the correct case file, following filing rules.
• Pay any filing fees and request a stamped copy for your records.
• Serve the filed copy on required persons, if applicable.
• Keep a service log with dates, methods, and recipients.
• Calendar any objection or response deadlines.
• Retain all vouchers and working papers in secure storage.
• Update your ledger to reflect any distributions and fees claimed.
• Prepare to answer questions or provide additional documents.
• Plan for a hearing or review if one will occur.
• Monitor mail and email for notices, endorsements, or requisitions.

Common Mistakes to Avoid

• Leaving out supporting vouchers. Don’t forget to cross-reference each entry to a voucher. Missing proof leads to delays, objections, or a demand for a full audit.
• Mismatched totals and balances. Don’t rely on mental math. Use a calculator or spreadsheet. If the closing balance does not reconcile to statements, the affidavit may be rejected.
• Altering the affidavit after commissioning. Don’t add pages or change numbers once sworn. Any change must be made through a new or supplementary affidavit. Altered documents can be struck and may attract costs.
• Using estimates or rounded figures. Don’t guess. Enter exact amounts and dates. Estimates undermine credibility and can trigger a requirement for further accounts.
• Mixing personal and fiduciary funds. Don’t pay expenses from a personal account or deposit receipts into one. Commingling raises red flags and may result in adverse findings or surcharge.
• Forgetting to label exhibits properly. Don’t attach unlabeled schedules. If letters or descriptions do not match the affidavit, the filing may be returned or questioned.
• Ignoring deadlines for service or objections. Don’t miss timelines. Late filings can delay distributions and expose you to procedural penalties.

What to Do After Filling Out the Form

1. Finalize exhibits and reconcile numbers. Confirm every schedule ties to the affidavit. Check that the opening balance plus receipts minus disbursements equals the closing balance. Make sure totals align across all schedules.
2. Commission the affidavit. Appear before an authorized official. Bring identification and the unsigned affidavit with exhibits. Sign in their presence. Confirm the jurat and exhibit stamps are complete.
3. File the affidavit. Submit it to the registry or office handling your case. Include the correct file number. Pay any fee and request a stamped copy for your records.
4. Serve interested persons if required. Deliver a filed copy and key exhibits to beneficiaries, creditors, or parties who must see it. Use a reliable method. Keep proof of service.
5. Track timelines. Note any deadlines for objections or responses. If a review or hearing is set, calendar the date. Build a preparation checklist for that event.
6. Respond to questions. If someone asks for vouchers or clarifications, provide them promptly. Use the voucher numbers from your schedules to retrieve documents quickly. Keep a log of what you sent and when.
7. Prepare for a hearing or review. Bring the original vouchers and a clean set of the accounts. Be ready to explain each entry, fee, and calculation. Have a summary that shows the flow of funds at a glance.
8. Make corrections if a material error appears. Do not mark up the sworn affidavit. Prepare a corrected or supplementary affidavit. Swear or affirm it and file and serve it as needed. Explain what changed and why.
9. Handle distributions. If the review concludes with approvals, complete any authorized distributions. Update your ledger to show the payments. Obtain receipts or releases when appropriate.
10. Store records securely. Keep the affidavit, exhibits, and vouchers in safe storage. Maintain them for a reasonable retention period. Use consistent file names and an index for easy retrieval.
11. Plan your next accounting period. Set dates for the next reporting cycle if you continue in the role. Keep contemporaneous records. Reconcile accounts monthly to avoid year‑end surprises.
12. Close the file when duties end. When you have distributed all property and filed final accounts, gather releases or approvals as required. Archive the file. Document the closing balance and final steps.