Carlos recently established an ILIT and transferred his life insurance policy with a death benefit of $1,250,000 into Carlos named his wife, Susanne, and his two children from a previous marriage as Crummey beneficiaries; they are to withdraw the greater of $5,000 or 5% from the trust each year. Carlos wants to reduce the gift tax value of the $5 premiums transferred to the prust this year. Which gifting technique is available to Carlos to reduce the taxable gift?

a. Annual exclusions of $17,000 for each beneficiary.

b. Gift splitting, if Susanne consents.

c. Annual exclusions of $5,000 for each beneficiary.