Henrietta wants to create a domestic trust that will protect her assets from her creditors. Which one of the following statements correctly identifies potential trust terms that will accomplish Henriettas goal?

Henrietta may create a revocable or irrevocable trust, fund it with her assets, retain a right to trust income, and leave the trust corpus to third-party beneficiaries.

Henrietta may create a revocable trust, fund it with her assets, retain a right to trust income only through discretionary distributions that she may make to herself as trustee, and leave the trust income and corpus to her spouse.

Henrietta may create an irrevocable trust, fund it with her assets, name a third party as the trustee, and name a third party as the trust income and corpus beneficiaries.

Henrietta may create an irrevocable trust, fund it with her assets, name a third party as the trustee and income beneficiary, name a third party as the trust corpus beneficiary, and name herself as a contingent beneficiary in the event the third party predeceases.