Which of the following is/are true about the difference between CRATs and CRUTs?

1. After it is created, additional assets can be added to a CRUT but not a CRAT.
2. A CRAT must pay out a specified amount of income (a fixed percentage) of the value of the corpus; a CRUT must pay out a specific amount of income.
3. If a term of years is applied, a CRAT cannot exceed 20 years. A CRUT term can be 30 years or longer.

1. I, II, III
2. I, II
3. I
4. II, III