Question #44 of 85 Question ID: 1251825 Which of the following are correct statements regarding a payable on death (POD) account used as a will substitute? 1. Use of a POD designation is a completed gift, but is entitled to an annual exclusion for each named beneficiary. II. The named beneficiary can transfer up to one-half of the assets in the account. III. The account assets will be included in the account owner's gross estate. IV. The account assets will be transferred outside of probate. O A) Il only OB) I and III OC) III and IV OD) I, III, and IV Question #44 of 85 Question ID: 1251825 Which of the following are correct statements regarding a payable on death (POD) account used as a will substitute? 1. Use of a POD designation is a completed gift, but is entitled to an annual exclusion for each named beneficiary. II. The named beneficiary can transfer up to one-half of the assets in the account. III. The account assets will be included in the account owner's gross estate. IV. The account assets will be transferred outside of probate. O A) Il only OB) I and III OC) III and IV OD) I, III, and IV