Using the legend provided. classify each statement appearing below. 2 Home purchases a U.S. savings bond listing title as: "Homer, payable to Bernice upon Homer's death Bernice is Homer's sister la Same as a Homer dies four years later, and Bernice cashes in the bond and keeps the proceeds. Howard establishes a trust, life estate to his children, remainder to the grandchildren. Under its terms the trust is revocable by Howard. d. Same as c Howard later rescinds his right of revocation. Memes her 18 year old son money for his college tuition and livine exnone Sime as a Hon Howard establishes a trust, life estate to his chil terms, the trust is revocable by Howard. d Same as c Howard later rescinds his right of revocation. e. Meg gives her 18-year-old son money for his college tuition and living expenses (e.g., room and board f. Clarence pays the medical providers (e.g., physicians, hospital) for his aunt's gall bladder operation. The aunt does not qualify as Clarence's dependent. Legend 1. No taxable transfer occurs 2 = Gift tax applies Clarence pays the med peration. The aunt does not qualify as Lorend No taxable transfer occurs 2 - Gift tax applies 3-Estate tax applies b. Using the legend provided. classify each statement appearing below. 2 Home purchases a U.S. savings bond listing title as: "Homer, payable to Bernice upon Homer's death Bernice is Homer's sister la Same as a Homer dies four years later, and Bernice cashes in the bond and keeps the proceeds. Howard establishes a trust, life estate to his children, remainder to the grandchildren. Under its terms the trust is revocable by Howard. d. Same as c Howard later rescinds his right of revocation. Memes her 18 year old son money for his college tuition and livine exnone Sime as a Hon Howard establishes a trust, life estate to his chil terms, the trust is revocable by Howard. d Same as c Howard later rescinds his right of revocation. e. Meg gives her 18-year-old son money for his college tuition and living expenses (e.g., room and board f. Clarence pays the medical providers (e.g., physicians, hospital) for his aunt's gall bladder operation. The aunt does not qualify as Clarence's dependent. Legend 1. No taxable transfer occurs 2 = Gift tax applies Clarence pays the med peration. The aunt does not qualify as Lorend No taxable transfer occurs 2 - Gift tax applies 3-Estate tax applies b