The trust is partially funded.
Was the trust approved by a judge? If so, it would not need to be reported.
The FAFSA handbook language indicates that in other than that circumstance, the trust should be reported. However, some attorneys disagree. Here’s one: http://www.martindale.com/education/article__2201244.htm
Before you do a deep dive into the research, approximately how much has been funded so far?
If it is reported, it would be very reasonable to request professional judgment on the part of the financial aid officer at each college to which your student is applying. You would need to provide supplemental information to help them understand the need and the situation.
(Some legal arguments I’ve read go down the path that says that since the SNT isn’t available for anything except what the trust specifies, so it shouldn’t count as an asset. That particular argument doesn’t work for me – lots of trusts have provisions that do not allow the beneficiary to have any access to funds until some time in the future – such as age 30, or for certain purposes – such as to buy a home, and yet those trusts are most certainly includable assets. The argument that the SNT is qualitatively different makes a lot more sense to me, but I’m not an attorney.)