You probably should just have joint accounts with your kids and let them bleed the account down over a few years for their day to day expenses and they bank their salary somewhere else if we are not talking about a huge sum. Since it is an illegal conveyance, try to hide it somewhat. I haven't really even looked at it but I bet you could do something with a trust but you still need some time between anything you do and the bankruptcy that you have to claim for medicaid.