Many people don't realize that life insurance is included in their taxable estate at the time of death. Why? Because the insured party controls the policy. If life insurance is (or should be) an important part of your estate, then you need to consider whether a life insurance trust - which is an irrevocable trust - should be part of your estate plan. A large life insurance policy can trigger estate taxes, but I can explain how these taxes can be avoided with proper advice and planning.