Do I bother trying to use assets (cash in bank) for I-864? Or just go joint sponsor route?

[ztiberiusd 38]

USC living with my wife in New Zealand. Planning to both move over to the US at the end of this year, but I would go ahead of her if necessary.

 

We were looking to get a joint sponsor, but I don't want to ask someone unless I 100% know that I'm going to need them to fill out the forms etc. Unfortunately I am a college student who works part time and therefore could not meet I-864 requirements alone (not to mention the fact that none of my income is US based...) 

 

My grandmother owns a few rental properties and was looking to sell one. She is aging and understands the requirements of the I-864 that we are trying to meet. She made the very kind offer to give me my inheritance early, which would help get me to just over 3x the minimum household income needed for I-864. I would also liquidate the (few) assets I own in NZ and move all of the money to a US bank account. If I wrote a letter alongside the I-864 explaining my situation (where I got the money from, the fact that I was a college student only working part time), is there any chance they would accept that for I-864? I've read that the money should ideally be in the bank account for 12 months prior, so would it be an issue if it had only been there for 5-7 months? I don't even have a US bank account currently. 

 

I will have two degrees when I finish college and plan on getting a job immediately once I'm living in the US, so another option is to go there and work until I have the income and evidence required for a more convincing I-864, but understandably I'd rather not be separated from my wife for longer than necessary. 

 

Basically, would the NVC/consular officer understand if I only have just over 3x the required funds in a bank account and that I will be a newly graduated college student about to begin full time employment? Or shall I forget that route and just pursue a joint sponsor? 

 

Thanks everybody. 

[aaron2020 11,651]

Go with your grandmother as your Joint Sponsor.

 

Your grandmother would incur a large tax bill in selling her rental property.  A CO may or may not accept that you got an early inheritance.  It's a gamble that's not worth incurring a large tax bill.  I absolutely would not go this route.  

Edited April 1, 2021 by aaron2020

[ztiberiusd 38]

3 hours ago, aaron2020 said:

Go with your grandmother as your Joint Sponsor

She lives in NZ and all her income is NZ based. So not an option unfortunately. Otherwise she would be a great candidate.

The people I was potentially going to ask to JS are family friends in the US.

 

3 hours ago, aaron2020 said:

Your grandmother would incur a large tax bill in selling her rental property.  A CO may or may not accept that you got an early inheritance.  It's a gamble that's not worth incurring a large tax bill.  I absolutely would not go this route.  

Tax laws are different in NZ and she was considering selling anyway. Sorry if I wasn't clear in the OP. 

 

Is there anything else I could add asset-wise or any other evidence which could make that more convincing? I think I already know the answer, but figured I'd just ask before abandoning this idea completely.

[aaron2020 11,651]

You can go with the assets.  Have your grandmother write a letter to you explaining her gift; not a letter to the US Embassy.  Use that letter to you as evidence that it's an early inheritance and not a loan.  

Best of luck.  

[pushbrk 12,898]

The early inheritance plan may well work in NZ based on the full circumstances you explained, but I would have a backup plan for a qualified joint sponsor, anyway.

 

As an aside, elderly joint sponsors are not usually the best choice, as they may not be around to fulfil the contract.  Grandparents of adults are generally "elderly".