Estate Tax Change to Affect Nearly 15 Million Households

By James F. McDonough, Jr. on November 7th, 2012

The current estate tax law conditions are expected to expire on December 31, 2012, if lawmakers fail to act. If the existing provisions are allowed to lapse, 14.7 million of the nation’s individuals and small business owners may face additional tax liabilities, making it crucial that they take advantage of the lucrative estate tax benefits before the end of year, according to life insurance trade group LIMRA.