True or False

Twenty years ago, Rex created a revocable trust for his two children, Fred and Wilma. The trust is to pay each child $20,000 semiannually until each child reaches age 30, after which the trust income and assets are to be equally distributed to each child. When Rex died this year, the kids were not yet 30 years of age, and the trust was valued at $7,761,000. The trust is not included in Rexs gross estate.