Which of the following statements regarding a Grantor Retained Annuity Trust is correct?
A. The remainder interest of a GRAT is payable to a noncharitable beneficiary.
B. The term of the trust should be set beyond the life expectancy of the grantor.
C. The remainder beneficiary is taxed on the income in the GRAT each year.
D. At the end of the GRAT term, the trust property reverts back to the grantor.
E. None of the above.