Cathy is creating an irrevocable life insurance trust for the benefit of her three children. The trust will purchase and be owner of life insurance on her life. Cathy plans to make gifts to the trust each year of amounts sufficient to pay the insurance premiums. Each of the children will be given a Crummey withdrawal power. The Crummey power must have all but which of the following characteristics?
a. Each of the children must be an adult.
b. Each of the children should be given notice of the power.
c. The trust must have sufficient assets to satisfy the power.
d. Each of the children must be given adequate time to exercise the power.