Which one of the following statements regarding the grantor trust rules is correct

The release of a general power subject to a "5&5" limitation cannot subject the holder to gift tax liability.

If the power is exercisable subject to an ascertainable standard, it will always be a special or limited power.

The exercise of a general power subject to a "5&5" limitation cannot subject the holder to gift tax liability.

If the power is exercisable in favor of the holder, it will always be a general power.