You can do whatever you want, but appreciate that you may be violating the terms of the Uniform Fraudulent Transfers Act, a criminal law, if you give up property rights in order to avoid paying creditors. Filing bankruptcy puts you in the spotlight for an investigation of your financial transactions, so I would be consulting with a bankruptcy attorney that can assist your in planning for bankruptcy & who understands asset protection requirements. Hope this perspective helps!
You will have to disclose your beneficiary status in your bankruptcy. There are timelines that come into play as well as the language of the trust itself. You may be making a big mistake if you don't check with your bankruptcy counsel before doing anything like this. If you don't have an attorney you can easily find one in your area on Avvo.
This answer does not create and attorney-client relationship. You can only create that relationship by meeting with Mr. Holt and signing a retainer agreement.