<p>Parent asset protection for a 2 parent family where the older parent is 50 at the end of this year is $52,900. If only one parent then the asset protection drops to 20,500.</p>
<p>The simplified needs test, where assets are ignored, requires an AGI below $50,000 as well as filing (or being eligible to file) a 1040a or ez (or meeting the income criteria and one of the other criteria such as dislocated worker). If your AGI is $50k or higher then you are not eligible for simplified needs whatever tax return you file.</p>