In 2000, Irv creates a revocable trust, income payable to his children for life, remainder to his grandchildren. In 2011, Irv relinquishes the power to revoke the trust. If Irv dies in 2013, the trust is not included in his gross estate.

Question

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The trust is included in Irv's gross estate because he retained the power to revoke it until 2011, and relinquishing this power within three years of his death (in 2013) causes the trust to be included in his estate under IRC Section 2035.

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