Texts: Harpo transfers land to an irrevocable trust. Harpo retains the right to the income from the land for the rest of his life. Upon his death, the land is to be transferred to his brother, Zeppo or to Zeppo’s children if Zeppo predeceased Harpo. The land has a value of $13,000,000 at Harpo’s death, and Zeppo survived Harpo. Is the land’s value includable in Harpo’s estate?
a: No unless Harpo expressly retained a right of reversion upon Zeppo’s death.
b: No because Harpo no longer had dominion and control of the trust at his death.
c: Yes because this was a transfer with a retained life estate.
d: None of the above are correct.