Form 37: Inventory - Alberta Human Services - Government of Alberta

Form 37: Inventory

Download Form 37 (PDF, 178.4 KB)

Instructions

Use this form to report the inventory – a listing of all assets and liabilities, income and expenses of the proposed represented adult. Enter the adult’s name and your name as applicant. Please use the same information as listed on the other application documents.

Enter the name of the trustee(s) and list each of their addresses. Enter the date for which the inventory is accurate (e.g. you may have done an inventory for July 1, 2009 but your application is done in September 2009- you would enter July 1, 2009). Enter the same date in the first part of the summary.

Please read the statement under the dates carefully as you will be required to swear or affirm this document.

You will need to complete the schedules before you can fill in the table in the summary section on the first page of the inventory. If you are completing this form on your computer, the form will do some calculations for you.

In the summary, enter the amounts for each category having reference to the amounts in the schedules. If you are completing this form on a computer the form will add the numbers. If you are using printed forms, please add lines 1, 2 and 3 and enter the amount in line 4. Enter the liabilities in line 5. Take the number in line 4 and subtract the number in line 5 and enter the differences as the adult’s net financial position on line 6.

Enter the adult’s income and expenditures on lines 7 and 8 and then calculate the surplus or deficiency by taking the number in line 7 and subtracting the number in line 8. Enter the difference in line 9.

Use each of the schedules to assist your calculations of numbers required for the summary.

Schedule A
Schedule AA
Schedule AB
Schedule B
Schedule BA – Bank Account
Schedule BB – Investments Accounts Solely Owned by Adult
Schedule BC – Investment Accounts Held Jointly by Adult with Someone Else
Schedule BD – Other Financial Assets
Schedule C – Other Assets
Schedule CA – Motor Vehicles, Mobile Homes, Boats
Schedule CB – Other Property
Schedule D – Liabilities
Schedule E – Income
Schedule F – Expenses


Schedule A

If the adult owns land please check yes and enter the number of properties owned or co-owned. Complete a schedule AA for each property and a schedule AB for each mineral title held by the adult. Enter the total value of the land and mineral titles that are owned by the adult on line A1 - calculate this number by adding all of the “adult’s net share of value” lines in the schedules. Line A1 from Schedule A goes in line 1 of the summary.

Top

Schedule AA

You may find it useful to have a copy of the certificates of title for each of the adult’s property before completing this schedule. Use a separate schedule for each piece of property.

If the adult is the sole owner, check that box and insert “100%” in AA1. If the adult is a co-owner, please indicate the type of co-ownership (e.g. joint tenants or tenants in common) and who else owns the land with the adult (the co-owner) and their relationship to the adult. Please note there can be more than one other co-owner. Enter the percentage of the adult’s ownership (e.g. joint owners, enter 50%).

Indicate the type of property (e.g. residential) and current use (e.g. adult’s and co-owner’s residence) by ticking the appropriate boxes. If you check “other” please explain the situation.

Check the box that best describes how you have valued the land. If you check “other” please explain. Enter the property’s estimated market value in line AA2.

If there is a mortgage or other debt owing on the land, please enter that value in line AA3. Take the number in line AA2 and subtract the number in line AA3 to determine the net value of the land (line AA4). To calculate the adult’s net share of the land, multiply the number in line AA1 by the number in line AA4 and enter this value in line AA5. The total of line AA5 from each Schedule AA forms part of the value given on line A1 of Schedule A.

Please note you must also include a copy of the current certificate of title for each property. Enter the number of this document so it can be identified by the Court e.g. if this is the first attachment to your Inventory, mark it exhibit A or exhibit 1 and then continue the numbering for any other exhibits to the inventory. The exhibits must be commissioned by the commissioner for oaths or notary public before whom you swear or affirm the Inventory document.

Top

Schedule AB

Use this schedule to calculate the net value of mineral titles owned by the adult.

Enter the legal description for the mineral titles from the certificate of title. Indicate whether the adult is the owner or co-owner of the mineral titles.

If the adult is the sole owner, check that box and insert “100%” in AB1. If the adult is a co-owner, please indicate the type of co-ownership and who else owns the land with the adult (the co-owner) and their relationship to the adult. Please note there can be more than one other co-owner. Enter the percentage of the adult’s ownership (e.g. joint owners, enter 50%).

Indicate the current status of the titles by checking the correct box. If the title is leased or generates income please enter the monthly income.

Indicate how the titles were valued by checking the correct box. If you check “other” please explain. Enter the estimated value in line AB2.

Calculate the adult’s share of the next value by multiplying line AB1 by Line AB2. Put this value in line AB3. The total of line AB3 from each schedule AB forms part of the value given on line A1 on Schedule A.

Number the mineral titles using numbers that follow the land numbers from schedule AA e.g. if there are two pieces of land that are exhibits 1 and 1, the mineral titles would be exhibits 3 and 4).

Top

Schedule B

You may find it useful to complete the sub-schedules labeled with a “B” before completing the summary Schedule B. Enter the values as indicated and add the numbers in lines B1 through B4. Enter the total number in line B5. Line B5 from Schedule B goes in line 2 of the summary.

Top

Schedule BA – Bank Account

For the purposes of this schedule a bank account includes a chequing account or savings account at a financial institution such as a chartered bank, trust corporation, credit union, or treasury branch. If cheques may be written on or bills paid directly from an account, it should be recorded here as a bank account. Investment products like GICs and term deposits should be included in the “Investment Accounts” – Schedules BB or BC, even if issued by a bank.

Complete a copy of this schedule for each of the adult’s bank accounts, even if the accounts are at the same financial institution. Include bank accounts of which the adult is the sole owner as well as accounts of which the adult is a joint owner with someone else.

The amount entered in line B1 of Schedule B will be the sum of the amounts entered in line BA3 on each Schedule BA.

Enter the name of the financial institution where the account is held and which branch. Also enter the account number and the type of account. If the adult is the sole owner of the account tick the correct box. If the adult is a joint owner, complete the name of the other bank account owner(s) and their relationship to the adult.

Enter the adult’s proportionate beneficial interest held in the account on line BA1. If the adult is the sole account holder, enter 100%. There may be other circumstances where the adult is entitled to less than 100%.

Enter the account balance on line BA2 and then multiply the amount in line BA1 by the amount in line BA2 to calculate the adult’s share of the account and enter the amount on line BA3. A current statement of account for the bank account is to be provided as an exhibit to the Inventory. It should have a number that follows any other exhibit numbers you may already have. For example, if you have two exhibits already with your application and they are labeled as exhibits A and B, the statement of account would be exhibit C. Do not start over with your numbering. The exhibits must be commissioned by the commissioner for oaths or notary public before whom you swear or affirm the Inventory document.

Top

Schedule BB – Investments Accounts Solely Owned by Adult

This schedule records financial assets held in investment accounts with financial institutions (other than bank accounts included in Schedule BA) where the account is owned by the adult. The following are examples of financial assets that might be held in such an investment account:

  • cash balances (e.g. within a brokerage account) or money market instruments (e.g. treasury bills, corporate paper, bankers’ acceptances);
  • GICs, term deposits, savings bonds;
  • marketable bonds (e.g. government, municipal, corporate);
  • common shares, preferred shares, share warrants, limited partnership units;
  • units or shares of mutual funds, exchange traded funds (ETFs), income trusts, gross royalty trusts;
  • life insurance products with a cash value (e.g. segregated funds, whole life policies, variable life policies, universal life policies).

If a financial asset owned by the adult is held outside of an investment account with a financial institution (e.g. cash or security certificates held in a safety deposit box), they should be recorded in Schedule BD (Other Financial Assets).

Enter the financial institution, account number, what kind of tax shelter it is (e.g. RRSP, RDSP), how it is valued (e.g. book value, market value) and the value. Total all investment accounts and enter this at line BB1. The amount from line BB1 goes on line B2 of Schedule B.

A current statement of account for each investment account is to be provided as an exhibit to the Inventory. It should have a number that follows any other exhibit numbers you may already have. For example, if you have two exhibits already with your application and they are labeled as exhibits A and B, the statement of account would be exhibit C. Do not start over with your numbering. The exhibits must be commissioned by the commissioner for oaths or notary public before whom you swear or affirm the Inventory document.

Top

Schedule BC – Investment Accounts Held Jointly by Adult with Someone Else

This schedule records financial assets held in investment accounts with financial institutions where the account is owned by the adult with someone else. The following are examples of financial assets that might be held in such a joint investment account:

  • cash balances (e.g. within a brokerage account) or money market instruments (e.g. treasury bills, corporate paper, bankers’ acceptances);
  • GICs, term deposits, savings bonds;
  • marketable bonds (e.g. government, municipal, corporate);
  • common shares, preferred shares, share warrants, limited partnership units;
  • units or shares of mutual funds, exchange traded funds (ETFs), income trusts, gross royalty trusts;
  • life insurance products with a cash value (e.g. segregated funds, whole life policies, variable life policies, universal life policies).

Enter the name of the financial institution, the account number, the joint owner(s)’ name(s) and the type of account. Enter the total value of the account, the adult’s share and then calculate the adult’s share of the account. Total the adult’s share of the joint investment accounts on line BC1. The amount from line BC1 goes on line B3 of Schedule B.

A current statement of account for each investment account is to be provided as an exhibit to the Inventory. It should have a number that follows any other exhibit numbers you may already have. For example, if you have two exhibits already with your application and they are labeled as exhibits A and B, the statement of account would be exhibit C. Do not start over with your numbering. The exhibits must be commissioned by the commissioner for oaths or notary public before whom you swear or affirm the Inventory document.

Top

Schedule BD – Other Financial Assets

Provide details of any financial assets owned by the adult that are not included in schedules BA, BB, or BC. This could include, for example:

  • cash on hand;
  • balance in account maintained for adult’s use with residential facility;
  • security certificates (e.g. share certificates, gross royalty trust certificates, savings bonds) not held in an investment account;
  • shares of private corporations;
  • shareholder loans to private corporations;
  • interest in a partnership or sole proprietorship;
  • interest in a trust or in a deceased person’s estate;
  • interest in ongoing or potential lawsuit (e.g. personal injury claim);
  • private debts owed to the adult.

Enter the information about the financial asset, how it is valued (e.g. book value, market value) and then total the values on line BD1. The amount from line BD1 goes on line B4 of Schedule B.

Top

Schedule C – Other Assets

This schedule includes all of the assets owned by the adult other than land included in Schedule A and financial assets included Schedule B.

For estimated value, give the estimated amount for which the property could be sold to an arm’s length purchaser.

You will need to complete the sub-schedules labeled with a “C” before completing this summary, Schedule C. Enter the values as indicated in lines C1 and C2 and the total in line C3. Line C3 from Schedule C goes in line 3 of the summary.

Top

Schedule CA – Motor Vehicles, Mobile Homes, Boats

For the purpose of this schedule, motor vehicles include, for example, cars, trucks, motorcycles, recreational vehicles, off-road vehicles, snowmobiles.

Enter the type of asset, a description and the estimated value. Add all the lines and enter the total in line CA1. The amount from line CA1 goes on line C1 of Schedule C.

Top

Schedule CB – Other Property

This schedule should include all property owned by the adult that is of significant monetary value and is not included in any other schedule. Examples of other types of property that might be owned by the adult and included in this schedule include:

  • Farm assets (e.g. equipment, tools, livestock, crops, seed, quotas)
  • Business assets (e.g. equipment, inventory)
  • Household and personal effects
  • Identify an item or a distinct set of items (e.g. a coin collection) individually in the space provided only if the estimated market value of the item or set is at least $1000.
  • If the adult owns property of a certain description that has significant monetary value, but it is not currently possible to give a reasonable estimate of fair market value, describe the property and indicate “Unknown” in the Estimated Value column.

Enter the description of other property and the estimated values. Add all lines and enter the total in line CB1. The amount from line CB1 goes on line C2 of Schedule C.

Top

Schedule D – Liabilities

This schedule should include all money owed by the adult, other than loans secured by mortgages against land.

  • It includes, for example, credit card debts, personal loans, car loans, lines of credit, and ongoing or potential lawsuits against the adult.
  • State the total amount owing on the loan, not the amount of the monthly payment, if any

Enter the information about the creditor(s), any account information, any other person who is also responsible for the debt and the amount owed. Add all the lines and enter the total liabilities in line D1. The amount from line D1 goes on line 5 of the summary.

Top

Schedule E – Income

State the adult’s sources of income and the average monthly amount received from each source. If a source pays at non-monthly intervals (e.g. quarterly), convert the payments to an equivalent monthly amount.

Review the types of income listed and enter the average monthly amount received from each source. If you enter amounts near the bottom under “other” please describe. Add the amounts and enter the total in line E1. The amount from line E1 goes on line 7 of the summary.

Top

Schedule F – Expenses

Indicate the type of expenses incurred by the adult and give the average monthly amount of each type of expense.

  • If an expense is incurred at non-monthly intervals (e.g. quarterly) or irregularly, convert the payments to an equivalent average monthly amount.

Review the types of expenses listed and enter the average amount paid for each. If you enter amounts near the bottom under “other” please describe. Add the amounts and enter the total in line F1. The amount from line F1 goes on line 8 of the summary.

Before you sign this form, check that you completed the summary box at the beginning.

Once you have completed this document you must take it to a commissioner for Oaths in the province of Alberta where you will swear or affirm that its contents are true. The commissioner will complete the box below. Please note that all lawyers in Alberta are commissioners for oaths. Students-at-law (articling students) are also commissioners for oaths. Some real estate offices, financial institutions and some Registry offices may also have commissions for oaths on staff. There may be a cost so be sure to ask about any charges before having your documents commissioned. Please make sure that the commissioner for oaths also commissions all of the exhibits attached to the Inventory.

Created:
Modified: 2016-02-04
PID: 16409

Contact this service

1-877-427-4525 (toll-free)

8:15 am - 4:30 pm (Monday to Friday, closed statutory holidays)