The Jeffersons want to establish a trust to provide for their children in case of their premature deaths. Which of the following is most appropriate for the Jeffersons' overall situation and objectives? Provide a rationale for your answer.

1. an irrevocable life insurance trust granting Crummey powers to the children 
2. a grantor retained income trust (GRIT) with Ashanti and Blake named as beneficiaries 
3. a revocable living trust naming a third party as successor trustee, with Avery and Jaylen as the primary beneficiaries while living and the children listed as remainder beneficiaries 
4. an irrevocable living trust naming the children as beneficiaries and Jaylen and Avery as the trustees

Answer rating: 100% (QA)

The detailed answer for the above question is provided below i An irrevocable living trust with the ... View the full answer