Estate tax repeal seems less likely. While the exclusion may increase from the current $2 million level, there is some chance it may decrease. Taxpayers should consider basic estate planning steps such as by pass trusts (also called applicable exclusion trusts, unified credit trusts or credit shelter trusts), properly titling assets to fund the trusts, and insurance protection. Life insurance, whether on one life or second to die insurance (also called survivorship insurance) often should be owned by a trust (called an irrevocable life insurance trust or ILIT). These basic steps can eliminate estate taxes for many. State estate taxes also need to be planned for.