In view of combined estate values for Marcel and Clio, and knowing that one of their planning objectives is the reduction of estate taxes, which of the following estate planning techniques might be appropriate? I. Placing the life insurance policies in an irrevocable trust. II. Establishing a revocable living trust and funding it by using the unlimited marital deduction and the full unied credit. III. Making use of the gift tax annual exclusion. IV. Establishing a qualied terminable interest property (QTIP) trust to pass property to their children. a. II and I1] only b. I and III only C. II and IV only d. 11, III, and IV only e. LII, III, and IV