With respect to the previous question, assume the trust instead gave $D$ the right to vary

distributions and invade the corpus "for any valid reason". What are the likely consequences

of this trust at D$\text{'}$s death?

The value of the trust corpus will be excluded from her gross estate under sections $2036$ and $2038$

because the "ascertainable standard" rule of Jennings v$.$ Smith and Old Colony Trust applies.

The value of the trust corpus will be included in her gross estate under sections $2036$ and $2038$

because her control is not subject to an ascertainable standard.

d$.$ The value of the trust corpus is included in her gross estate under section $2033.$

The value of the trust corpus is included in her gross estate under sections $2036$ and $2038$ merely

because she is the grantor or the trust.