No they consider other assets too. You’re allowed your home and 1 car.
Right - that’s similar to any states I directly know of... (See post I made above this one.)
Thanks for the confirmation - my experience was some years back, when I was laid off, “my industry” collapsed, and the economy in general was very bad. I elected not to put my assets at risk, as I needed them to refire an old business to try to get by. We did - barely.