$($Case Srudy Question$)$

"Henry has emblished a revocable lining trust, which he has only partialy funded. Which of the following statements$*$ regarding this trust is CORARCT?

Any assets that have been translerred to the trust before Henry's death will be sabject to probace.

II$.$ Any income from the trust assets is taxable to the trust at trust income tax rates.

IV$.$ Any assuebs thur are not transferred to the trust before Henry's deaph will be subject to probate.

A$)$ In only

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