TREPC November Meeting - Planning for Business Continuity- Entry and Exit of Equity Owners of Closely Held Corporations and LLCs

Date: Wednesday, November 17, 2021
Time: 11:30am - 1:00pm
Location: Aloft Tallahassee Downtown
Speaker: Kimberly L. King

Kim King began his legal career as a bond lawyer, but went on to gain considerable experience in commercial litigation, administrative litigation, insurance defense, and appellate practice. Mr. King’s litigation background informs the planning advice he gives business owners, real estate owners, estate planning clients, and fiduciaries.

Planning is at the heart of Mr. King's practice. In the area of estate planning, he begins with an assessment of the client's current situation and helps the client focus and clarify needs and goals. He then designs, explains, and suggests possible solutions, including those that legitimately may help protect assets from creditors (including Medicaid) and minimize wealth transfer taxes (gift tax, estate tax, and generation-skipping transfer taxes). He provides guidance on beneficiary designations for life insurance and retirement funds, allocations of assets, and selection of fiduciaries. He then drafts or reviews the necessary legal documents and advises clients on how to use them.

For business owners, planning helps maximize opportunities and minimize risks. Mr. King advises clients on choice of entity, shareholder buy-sell agreements, employment agreements, contracts, loans, leases, and other issues. Planning for compliance with government laws and regulations (including employment and antitrust laws) helps businesses reduce the risk of costly litigation. Mr. King offers outside general counsel services so that the owners of a business can have timely advice from a law firm that already understands their business.

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