Which of the following transfers will be successful in removing property from a grantor’s gross estate?

Which of the following transfers will be successful in removing property from a grantor’s gross estate?

l. A grantor’s transfer of property to a revocable trust if the grantor lives three years after the transfer.

ll. A grantor’s transfer of a personal residence to a qualified personal residence trust if the grantor survives the retained interest term.
A . l only
B . II only
C . Both l and ll
D . Neither I nor II

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Answer: B