Jay creates a trust for the benefit of his grandson, Luke. Specifically, the terms state that during Jays life income shall be distributed to Luke. When Jay passes away, the remainder in the trust shall be distributed to Luke outright.

Check all of the following that are true:

___ If the trust was funded before October of 1986, the trust will not be subject to GST.

___ When the trust is funded, it will constitute a taxable termination for GST purposes.

___ If Lukes parents are both dead, this trust will not be subject to GST.

___ The trust will not be subject to GST until after Luke passes away.