Ethan is the beneficiary of an irrevocable trust created by his uncle. Ethan will receive all income from the trust for life and he has the right to invade the trust corpus without restriction for the benefit of his health, education, comfort and welfare. Which statement is correct?
a. Ethan has a limited power of appointment and trust assets are not includable in his gross estate.
b. Because Ethan has a life estate in this trust, the FMV of the trust assets will not be included in his gross estate.
c. Ethan has a testamentary power of appointment.
d. Ethan has a general power of appointment and trust assets are includable in his gross estate.