Quigley makes a gift of his stock portfolio, in trust, to his wife, with the restriction that she can only access the income of the trust for her life. Upon her death, Quigley's oldest daughter is entitled to the income for her life. After the daughter's death the entire trust corpus is to be distributed equally to her three children. Quigley retains the right, at his death, to terminate the interest of his grandchildren and give his daughter the entire trust corpus. Considering IRC section $2038$ ?only, which of the following statements is correct?

When Quigley dies the value of entire trust is included in his gross estate.

When Quigley dies the value of his grandchildren's remainder interest is included in his gross estate.

When Quigley dies the value of his wife's life estate is included in his gross estate.

When Quigley dies the value of his daughter's life estate is included in his gross estate.

Only choices three and four are correct.