Question #43 of 85 Question ID: 1251821 Four years ago, Evelyn created an irrevocable life insurance trust, transferred a life insurance policy that named her as the insured to the trust, and funded it with interest-bearing bonds. Income from trust assets is used to pay the premiums on the life insurance policy. The beneficiary of the trust is Evelyn's son, Bruce. The trustee is the trust department of a bank. What is one advantage of this trust arrangement for Evelyn? OA) She avoids having all income from the trust taxed to her during her lifetime. OB) She will maintain control over the policy even though it is transferred to the trust. OC) She avoided all gift tax liability on the insurance policy by transferring it into the trust. OD) She removed the proceeds of the insurance policy from her gross estate by transferring the policy to the trust. Question #43 of 85 Question ID: 1251821 Four years ago, Evelyn created an irrevocable life insurance trust, transferred a life insurance policy that named her as the insured to the trust, and funded it with interest-bearing bonds. Income from trust assets is used to pay the premiums on the life insurance policy. The beneficiary of the trust is Evelyn's son, Bruce. The trustee is the trust department of a bank. What is one advantage of this trust arrangement for Evelyn? OA) She avoids having all income from the trust taxed to her during her lifetime. OB) She will maintain control over the policy even though it is transferred to the trust. OC) She avoided all gift tax liability on the insurance policy by transferring it into the trust. OD) She removed the proceeds of the insurance policy from her gross estate by transferring the policy to the trust