Question: In 2 0 1 4 , Drew creates an irrevocable trust with $ 1 , 0 0 0 , 0 0 0 of securities .

In 2014, Drew creates an irrevocable trust with $1,000,000 of securities. Under the terms of the trust, Paula (Drew's wife) is granted a life estate with remainder to their children. Drew makes a QTIP election as to the trust. Drew dies in 2016 when the trust is worth $1,500,000, and Paula dies in 2025 when the trust is worth $5,000,000. Which, if any, of the following is a correct statement?

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