<p>1) Determine the value of the trust. </p>
<p>2) Give it all to them. ;)</p>
<p>Is the trust revocable by the Grantor? If not, the terms of the trust will likely be viewed as a sham to avoid a higher EFC. If so, and Grandpa is still breathing fresh air, I’d see a lawyer. Pronto. Kids assets are “taxed” at the highest rate of any asset by FAFSA and Profile. IIRC, it used to be 35% per year.</p>