You may be going through life under the impression that the estate tax is only levied on people who are extremely wealthy. This is a misconception that could potentially cost your heirs a significant amount of money. In fact you do not have to be Bill Gates or Warren Buffett to have estate tax concerns. There is an exemption, and right now it stands at a relatively modest $5.12 million. However, at the end of this year the parameters of the estate tax are scheduled to change. When 2013 arrives … [Read more...] about Life Insurance Trust Can Reduce Tax Exposure