Partner

Practice Area Overview

Kenneth W. Clingen, a partner in the firm, concentrates his practice in the following areas:

Corporate/Finance

Provides day-to-day counseling to owners and executives of privately owned companies, from creating new organizations, planning for existing organizations, and merger and acquisition activities. Represents privately owned clients involved in the private placement of debt and equity securities.

Tax

Advises clients on the proper choice of entity among corporations, partnerships, limited liability companies (LLCs) and assists clients on a multitude of tax planning matters as they affect privately owned business owners, executives and professionals. Works to minimize the tax liabilities associated with the sale of privately owned businesses and preserve the maximum flexibility in designing various entity structures. Represents clients in disputes with the Internal Revenue Service and various state taxing authorities, including IRS audits and appeals.

Executive Compensation/Agreements

Designs equity and non-equity based non-qualified incentive and deferred compensation plans for privately held employers, including the use of stock options, restricted stock, and stock appreciation rights. Negotiates and drafts employment agreements for both employers and employees in a number of manufacturing and service industries, including telecommunications, financial services, health care, manufacturing and distribution.

Family Business/ Estate Planning

Represents families and individuals, family partnerships privately owned businesses, foundations, estates and trusts on a number of estate and succession planning issues, and the appropriate use of strategies to reduce exposure to estate and gift tax liabilities.

Background

Mr. Clingen received a Bachelor of Business Administration in 1982 from the University of Notre Dame. After graduation, he worked for two years as a certified public accountant for Ernst and Young (formerly Ernst & Whinney), concentrating in audits of the financial services and manufacturing industries. He also provided extensive litigation support for the audit firm in a major shareholder derivative and class action suit. He received his Juris Doctor degree in 1987 from the Notre Dame Law School, where he was vice president of the student body.

He is admitted to the Illinois Bar, the Federal Bar of the Northern District of Illinois, and the United States Tax Court. He is a member of the Sections of Taxation, Business Law and Law Practice Management of the American Bar Association, and the ESOP Association.