<p>If my son receives money in 2011 from a trust account in his name, will the proceeds count as income? He reported it last year, and was required to pay 20% of its value in the student asset category. If the proceeds are counted as income next year and assessed at 50% (his summer job will net him about $5000, so trust proceeds will not be sheltered), that means he will be expected to pay a total of 70% of the fund’s value over two years. If he then puts in into savings, he will again be assessed 20%, upping the percentage he will be expected to pay to 90% (20% as an asset for Year 1, 50% as income for Year 2, 20% as an asset for Year 3.) Is this correct? My apologies if this question seems familiar; I posted a similar question a month or so ago, but I still don’t know the answer. Thanks!!</p>