Yes. Each family member who becomes a permanent resident acquires obligations in their own right, including on income and assets held in their own name. Each also adds US$15,000 and US$1 million to the application, and each must be considered in the initial application. Ask the adviser to review the household member by member.
Look at assets held in other names
Family wealth is often spread across spouses and children: accounts opened for education, a share in a family company, an inherited property, a trust interest. Each of those belongs in the review, not only the principal applicant's holdings. Ask which arrangements would create reporting obligations for the person who holds them, and who would be responsible for meeting them. A minor's assets still need someone accountable for the paperwork.
Each accompanying spouse or unmarried child under twenty-one adds a further processing fee of fifteen thousand United States dollars and a further gift of one million United States dollars, and that additional amount applies in the corporate-sponsorship situation as well. Because a joining spouse and each unmarried child under twenty-one carry their own processing fee and payment under the current instructions, the family decision has a direct financial consequence that should be taken deliberately rather than by default.