Question $363$ ptsIn $2023,$ Sloan created and funded an irrevocable life Insurance trust $($ILT naming her children as the benefciartes. The trustee purchased a policy on Sloan's life and Sloan contributed cash each year to the trust to pay the life insurance policy premiums. in $2025,$ Sloan died in a car accident, and the policy death benefit of $$1\mathrm{.}000,000$ was paid to the ILT. Which of the following statements regarding this ILIT and Sloan's estate is false?O If Sloan's executor can demand a distribution from the ILIT to pay Sloan's estate taxes, the value of the LiT will be included in Sibaris gros estates.O Sloan's executor can sell the assets from Sloan's estate to the ILIT without causing the value of the IT to be included in Sitar's gross estate.O The ILIT will be included in Sloan's gross estate because Sloan made a caniribution to the trust within three years of ter death.O If Sloan had released any rights she had to revoke the ILIT in $2023,$ the value of the LT would be included in Sian's gross estate.