Two years ago, Ellen created a revocable trust-life estate to her children, remainder to her grandchildren. When Ellen dies in the current year, none of the trust is included in her gross estate or her probate estate.

Question

Quizplus · Accepted Answer

A revocable trust is included in the gross estate because the decedent retained the power to revoke it. However, it is not included in the probate estate as it passes outside of probate.

Two Years Ago, Ellen Created a Revocable Trust-Life Estate to Her