Which of the following rights retained by a donor who gifts property during his or her lifetime will result in the inclusion of such property in the gross estate of the donor-decedent?
I The right to the property’s income for the donor’s lifetime.
II The right to revoke the transfer in case of financial need.
III The right to a reversionary interest where the probability of reversion is less than 5%.
A. I only
B. I and II only
C. II and III only
D. I, II and III
Provide an explanation. This is estate planning.