Learning Center

Please note: Attorney Barry Kucik is not providing you with  legal advice on this web site.  The information
contained on this web site may change from time to time due to new laws passed by the U.S. Congress and the
Florida Legislature, interpretation of the tax laws by the federal courts and by the Internal Revenue Service, and
changes in rules promulgated by the Florida Department of Revenue and the Florida Department of Health and
rehabilitative Services.  Each individual will have special needs and assets which require that he or she meet
with a qualified estate planning attorney and other professional advisors before establishing and implementing
their own individual estate plan.  As always, you should obtain competent professional advice from qualified
persons before implementing any estate or tax plan.

Frequently Asked Questions

What is an estate plan?

An estate plan is a combination of documents created and used to assign property for inheritance, instructions for healthcare, financial, and
personal representation.

Why should I have an estate plan?

The main reasons for having an estate plan in place are to protect your assets against guardianship (living probate), death probate, death taxes, and
other means of shrinkage.

What are death taxes?

Death taxes are federal and state taxes levied on the total inheritance of assets.  Typically there is an exemption amount which, at the federal level,
changes each or every few years.  Federal death tax can be as much as 55% of the total value of an inherited estate.

What is the difference between a Living Trust and a Will?

A Living Trust is an entity created by living individuals to manage property interitance and representation issues upon death or incapacity of one or
more of the trust creators, or "Trustors".  A Will simply assigns property to beneficiaries upon the death of the person creating the Will, or "Testator".

How do I choose an effective estate planning attorney?

The Florida Bar discusses guidelines for choosing an attorney in general. Click here to use our link to the Florida Bar. Otherwise consider all
credentials held by the attorney, how many years in practice, and determine if the type of advice they give you about your estate makes sense for your
unique situation.

What tools are available to help me manage my estate?

Attorney Barry Kucik offers, with all estate plans created by our office, an Estate Planner.  This durable and handsome binder contains specific
instructions to assist in the management of your estate plan along with personalized forms and letters you can use at your discretion.  

What is a Durable Power of Attorney document?

A Durable Power of Attorney is a legal document in which a person (donor) may designate another person (donee) to be legally empowered to act on
behalf of the donor as outlined in the specific Durable Power of Attorney.  A Power of Attorney is considered "Durable" because the powers described
in the document remain in effect even if the donor becomes mentally or physically incapacitated.

Recently my friend's bank would not accept her Power of Attorney. What could be the reason for this?

Your friend probably used a General Power of Attorney.  This may be one you get from bookstores and office supply stores, typically a
"fill-in-the-blank" form.  The Florida Durable Power of Attorney is specifically made for Florida Residents and must be honored.  If the bank did not
honor a Durable Power of Attorney then by law they would be required to pay any damages incurred for not honoring a properly drafted Power of
Attorney.  Your friend's Power of Attorney may not have been properly drafted.