David G. O'Leary

David G. O’Leary

PARTNER

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PRACTICE AREAS

Business

Taxation

Estate Planning

Honesty, integrity and trust in my dealings with clients have been the cornerstones of my career as an attorney. Communication is one of the most important aspects of our relationship and I am committed to keeping clients informed throughout our relationship. I am dedicated to understanding what results you want and helping you to understand what actions can be taken to achieve those results.

With regard to business law, I have been involved in all facets of the ESOP cycle. My experience allows me to represent companies, shareholders, banks and trustees dealing with complex ESOP scenarios. I am very familiar with the various types of business entities, including corporations, partnerships and limited liability companies and can assist you in navigating the tax and liability concerns related to each.

As attracting and maintaining quality employees is crucial to your success, I am prepared to share my significant experience will all types of benefit plans, including 401(k)s and other qualified plans, nonqualified deferred compensation plans, and equity-based incentive arrangements. Should you need assistance with ERISA fiduciary liability issues, plan asset rules, avoidance of prohibited transactions and multiemployer pension plan withdrawal issues I would welcome the opportunity to use my experience to serve you.

In addition, I am well versed in the latest developments in tax and estate planning areas. I have considerable experience crafting business ownership succession plans to facilitate tax-efficient transfers of business ownership. I am also experienced in estate planning techniques and the administration of complex estates.

Education

J.D. Loyola School of Law, Chicago, Illinois
B.S., University of Illinois, Urbana, Illinois - Finance

Certifications and Accreditations

Certified Public Accountant, State of Illinois
Real Estate Managing Broker, State of Illinois

Bar Certifications

Admitted to the Bar of Illinois Supreme Court
Admitted to the Bar of the State of Florida
Admitted to the U.S. District Court, Northern District of Illinois
Admitted to the U.S. Tax Court

Bar Association Memberships

Chicago Bar Association - Past chair of Employee Benefits Committee
Florida Bar Association

Awards and Recognition

2018 Illinois Super Lawyer

Publications

Identifying ERISA Employee Benefit Plans – Lexis Practice Advisor
SBA Financing For ESOPS: An Under-Used Shareholder Exit Strategy – March, 2015 issue of Practical Tax Strategies.
ESOPS – A Way To Provide Liquidity For Minority Shareholders – November, 2010 issue of Practical Tax Strategies

Community Involvement

Mr. O’Leary is a member of the Board of Directors of The Heritage of Palatine Condominium Association.

Read My Posts

Lavelle Law News and Events

ESOPs can be an exit strategy for small and mid-sized business owners

By David G. O’Leary • 21 Aug, 2023

Owners of small and mid-sized businesses are often looking for a way to sell all, or a part, of their business for the highest price possible and pay the least amount of taxes.

The Advantages of an Employee Stock Ownership Plan as a Business Succession Option

Protect Your Legacy - Consider an ESOP When Selling Your Business

By Steven A. Migala and David G. O’Leary • 23 Jun, 2023

In this video podcast, Lavelle Law attorneys Steven Migala and David O'Leary review the advantages and strategies of using an Employee Stock Ownership Plan as a business succession option. ESOPs are a mechanism by which owners can sell their business to employees allowing their legacy to be protected. Learn about the advantages of the approach and some of the mechanisms involved in an ESOP transaction from two very experienced attorneys.