Which of the following constitute advantage(s) of a revocable living trust? Please give detailed answer why each are wrong/right.

I. Reduction in federal estate taxes

II. Privacy surrounding one's financial affairs

III. Removal of asset appreciation from the grantor's gross estate

IV. Professional management of trust assets

A. II only

B. IV only

C. II, and III only

D. II and IV only

E. I, II, and III