A qualified affidavit shall state that:
- The transferor has full right, title, and authority to transfer the assets to the trust;
- The transfer of the assets to the trust will not render the transferor insolvent;
- The transferor does not intend to defraud a creditor by transferring the assets to the trust;
- The transferor does not have any pending or threatened court actions against the transferor, except for those court actions identified by the transferor on an attachment to the affidavit;
- The transferor is not involved in any administrative proceedings, except for those administrative proceedings identified on an attachment to the affidavit;
- The transferor does not contemplate filing for relief under the federal bankruptcy code; and
- The assets being transferred to the trust were not derived from unlawful activities.