Which, if any, of the following procedures reduces both Ned’s gross estate and probate estate?

a. Ned purchased a CD listing title as “Ned, payable on proof of death to Eileen.” Eileen is Ned’s niece.

b. Four years ago, Ned named his wife as the designated beneficiary of his IRA. (Previously, Ned’s estate was the designated beneficiary.)

c. Using her funds, Ned’s wife purchased real estate listing herself and Ned as “tenants by the entirety with right of survivorship.”

d. Four years ago, Ned made a gift of an insurance policy on his life to his daughter (the designated beneficiary).

e. None of the above.