Recently, Congress passed legislation to substantially alter income tax deferral opportunities with regard to inherited retirement accounts. And now, in light of government stimulus spending and a new administration, it is safe to assume that additional changes are on the horizon. It is important to implement an estate plan with proper consideration for future legislation, or new tax laws could lead to unintended consequences and even tax inefficiencies. Check out this article for a review of President Biden's proposed Estate, Gift and Generation-Skipping Transfer Tax Plan:
