In 2000, Irv creates a revocable trust, income payable to his children for life, remainder to his grandchildren. In 2010, Irv relinquishes the power to revoke the trust. If Irv dies in 2016, the trust is not included in his gross estate.

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By relinquishing the power to revoke the trust in 2010, Irv made it an irrevocable trust. As long as Irv did not retain any control over the trust or receive any benefits from it after 2010, the trust would not be included in his gross estate upon his death in 2016.

In 2000, Irv Creates a Revocable Trust, Income Payable to His