The New Year didn't bring a lot of changes to estate planning laws but there are some items to consider that may affect your estate planning for 2015. They include:

1. Non-taxable Gifts. Gifts to a spouse, payments for someone's medical or education expenses (made directly to the provider) and donations to a qualified charity are still tax exempt and have no limits. It is important to confirm with your estate planner that the gifts you are considering are truly tax exempt.

2. Exclusion Amounts. In 2015, Floridians will pay no estate taxes if at the time of their death if their estate is worth less than $5.34 million or 10.68 million for married couples.

4. Healthcare Coverage. This year those without health coverage will be subject penalties. For 2014, the penalty is the greater of a flat $95 per adult and $47.50 per child under age 18, up to a maximum of $285 per family, or one percent of the portion of your family's modified adjusted gross income that is more than the threshold for filing a tax return.

Employees in their 40s and 50s need more savings to retire than ever before. We are living longer and our retirement dreams are bigger than the generation before. According to standards published by JP Morgan Asset Management, a 50-year-old making $100,000 should have $390,000 in investment funds. If this makes your feel good or ready to reel in your spending there are few things to consider in saving more and getting on the right path. First, take a good look at your contributions. Many IRAs and 401(k) plans kick in at age 50, allowing savers to add $1,000 more to IRAs and up to $6,000 more in 401(k) plans. Make sure your income is diversified in taxable and non-taxable accounts as you plan your retirement account withdrawals on a multi-year basis. Finally, consider risk tolerance if you plan on working at least 15 more years. The best advice for Generation X's is to take a deep breath and meet with a qualified advisor to help you predict and plan your goals most effectively.