A completed gift is made in transferring assets to what type of trust?

A completed gift occurs when the donor relinquishes control and ownership of the transferred assets, which typically entails that the donor cannot reclaim the assets or dictate their use. An irrevocable trust meets this criterion because once assets are placed into it, the grantor cannot modify the trust terms or regain possession of those assets. This characteristic is essential for gift tax purposes, as it allows the transferred assets to be considered completed gifts for tax calculations.

In contrast, a revocable trust allows the grantor to retain control over the assets and make modifications at any time, which means the transfer is not considered complete for gift tax purposes. A complex trust may have various distributions and tax implications, but it does not inherently signify the completion of a gift without further context. A living trust, while it can be irrevocable, is generally a term that encompasses both revocable and irrevocable trusts, thus not specifically indicating the completed nature of the gift. Hence, an irrevocable trust with Crummey provisions is the correct answer as it confirms the completion of the gift.