Austin Kelley

Associate

847-330-6066
akelley@mpslaw.com

Schaumburg

1515 E. Woodfield Road, Suite 250
Schaumburg, Illinois 60173

Austin focuses his practices within two general fields of law: trusts and estates, and corporate and business law.

In his trusts and estates practice, Austin takes a personalized approach to advising families on how to achieve their estate planning goals. He has assisted clients with basic estate planning to help devise a plan for distributing their assets, and has also assisted clients with advanced estate planning including minimizing estate and income taxes, gifting of assets for both charitable and tax purposes, and used planning techniques that provide asset protection for the beneficiaries of the client’s plan. He has advised clients on plans that include everything from traditional estate plans where clients simply wish to simplify things for their children and avoid familial fighting when they pass away, to complex dynasty estate plans for clients who are distributing more than $100 million to the next generation where advanced tax planning is required. Along with trust and estate planning, Austin also helps with the administration of trusts and estates to help ensure that fiduciaries and other parties are in compliance with the terms of the estate plan as well as the relevant laws.

In his corporate and business law practice, Austin has worked with numerous closely held businesses on matters throughout the business lifecycle, including business formation, contract negotiation, ownership restructuring, and mergers and acquisitions. From review and preparation of the letter of intent, purchase agreement, and ancillary documents, to the closing and post-closing process, Austin is able to assist clients with minimizing liability and maximizing value. As the son of a small business owner, Austin has a unique perspective on the many challenges of running a small business and understands the value that diligent legal service provides for small businesses.

Outside of the law, Austin enjoys playing golf and guitar, doing home projects, and spending time with his wife, Nikki, and his two miniature dachshunds, Chuck and Nellie.

Practices Areas

Education

  • J.D., summa cum laude, Northern Illinois University College of Law
  • B.S., cum laude, North Park University

Admissions

  • Illinois
  • Florida
  • TRUSTS AND ESTATES:
  • Used traditional and advanced planning techniques to reduce estate tax payable upon the death of a high net worth individual from approximately $22 million to $0.
  • Assisted a client worth in excess of $100 million with passing the client’s assets onto the next generation in a manner that provides the client’s children with protection from creditors, ex-spouses, and taxes. For the same client, the estate tax payable upon death was reduced by over $32 million, which meant $32 million in additional benefit for the heirs of the client.
  • Advised a client on the administration of a multi-million dollar estate that included property in various foreign jurisdictions.
  • Helped a lottery winner to make an untraceable and anonymous claim via the use of creative trust planning techniques.
  • CORPORATE AND BUSINESS LAW:
  • Handled asset sale for a Chicago area hearing aid center to a larger company acquiring for rollup. In connection with the transaction completed post-closing coordination with client and accountant as to effecting release of tax-related stop order.
  • Represented successful die-cutting and ultrasonic bonding manufacturer in an equity sale transaction to P/E firm acquiring for rollup. In connection with the transaction, assisted with an F-Reorganization and directing the client and advisors in responding to technical due diligence issue raised by potential buyer.
  • Handled contemporaneous asset and real estate sale transactions for specialty packaging and shipping services provider. In connection with the asset transaction, assisted the seller with review and direction related to the buyer’s post-closing use of seller’s tax exemption certificate.
  • Represented industrial supplier of OEM-grade heavy truck accessories in an equity sale transaction to P/E firm acquiring for rollup. In connection with the transaction, assisted with an F-Reorganization and directing the client and advisors in responding to technical due diligence issue raised by buyer. Coordinated with seller’s foreign counsel related to the post-closing transfer of a Chinese subsidiary. Coordinated with the client related to the restructure of a mortgage to remove the company as a guarantor.
  • Provided advice on the formation of a technology company to minimize liability and provide for corporate governance of the newly formed entity.
  • DuPage County Bar Association
  • Phi Theta Kappa Honors Society