The bill gradually increases the amounts you can contribute to retirement accounts and provides for expanded permitted roll-overs among various types of plans and IRAs. The bill includes significant changes for estate planning including increasing the unified credit and reducing estate tax rates over the next decade. Although many Americans fail to adequately implement estate planning into their financial plans, it is a critical segment of financial planning and should not be overlooked. By passing a comprehensive tax bill, Congress updated many of nation's retirement and pension laws and provided Americans with more incentives to save and invest. Now it is up to individuals to consider their options and implement financial plans appropriately incorporating these new legislative changes.
Rains is a financial adviser in Houston.
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