A man has established a revocable intervivos trust and has named the trustee the beneficiary of all his life insurance policies. His will provides that all of his residuary estates will "pour over" to the trust. All of the following statements concerning this arrangement are correct EXCEPT:

A. Flexibility and discretion in the administration of the trust's assets can be attained.

B. The trust must be in existence prior to the date the man's will is executed.

C. The trust can provide liquidity in the man's estate.

D. Probate costs will be eliminated in the administration f the man's estate.