1.Ann, the owner and the insured of a $1 million life insurance policy, creates an irrevocable life insurance trust of which her 4 children are the beneficiaries and she is the Trustee. The trust contains Crummey withdrawal provisions. Ann absolutely-assigned the policy with a value of $300,000. Ann dies in 2015.What value of the trust will be included in Ann's gross estate?

a.Zero

b.$44,000

c.$956,000

d.$1 million