Before moving on, respond to the following question by selecting the best answer:

7. All the following would be generally effective and acceptable in reducing the value of John and Mary Stevens' estate, EXCEPT:
   1. Setting up a charitable remainder trust for the benefit of the six charitable bequests and placing the Evergreen stock into it.
   2. Utilizing a stretch IRA strategy with John's qualified retirement account assets.
   3. Annually giving $26,000 each to Johnny, Lynn, and the grandchild.
   4. Transferring the existing life insurance policies to an irrevocable life insurance trust.

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