Question about Affidavits and Joint Accounts

[audelair]

Hello,

 

I plan on using my assets on my I-864, since I will be unemployed when i move to Australia to spend a 6 month holiday with her.

 

I have a couple of joint accounts with my parents. (one with my dad, and one with my mom). In both cases, they are the primary account holder and I am the secondary, although we all have the same priviliges with it.

 

Are those assets considered mine? Or is there some requirement where assets in joint accounts are only considered half-mine?

 

Thank you very much. I am trying to consider whether to ask my parents to be joint sponsors. (I am already going to ask my brother to be a joint sponsor, since he has decent income).

 

 

Thanks again!

[david_dawei]

Not sure if I ever passed this along to you.. might want to read up just to be informed.. some interesting comments on using assets and co-sponsors (which you are not limited to using just one)...

 

I-864 Fact Sheet:

http://uscis.gov/graphics/publicaffairs/fa...eets/affaqa.htm

 

1-864 Check List:

http://travel.state.gov/visa/immigrants/in.../info_1329.html

 

I-864 FAQ:

http://travel.state.gov/visa/immigrants/in.../info_1328.html

[audelair]

cool thanks for that. i just went through it and it has very good information

 

I still couldn't find any information on savings accounts with more than one name on it though. Anyone know how joint accounts work, where there is another name on the account?

[Dan R]

I would definitely have your brother and your parents do the cosponsor papers. Since you all have equal access to the accounts any one of you could drasticly reduce the funds. Because of joint control, your sponsorship without your parents' would be meaningless. At least that would be my interpretation if I was reviewing the case.

[frank1538]

cool thanks for that.  i just went through it and it has very good information

 

I still couldn't find any information on savings accounts with more than one name on it though.  Anyone know how joint accounts work, where there is another name on the account?

Well, sorta. A joint account usually gives each owner an undivided interest in the entire account. In other words, each owner has the right to 100%. This is different than, for example, an asset held "in common" where each owner is given a specific percentage of the asset.

 

If I had to guess, I'd say that, technically, joint assets should count as much as assets owned solely by one individual, but I agree with Dan. Maybe the safest way to go is a joint sponsor.

[audelair]

thanks for the advice. That makes sense, so I just called my dad about it. We agreed to transfer all the money into my personal account (not joint). Seems like the easiest way is to eliminate the joint accounts altogether, and minimize paperwork

 

We decided this is better than joint sponsoring, because my dad is residing overseas and it may be difficult for him to qualify as a joint sponsor, so it's easier to just put all the assets in my name.

 

Hopefully this will work! Thanks again for the advice