Terry D. Anderson, a partner in the firm’s corporate business group, concentrates his practice in business and tax planning issues for closely held businesses and their owners, including industrial, service, and professional organizations. A major focus of his practice is business acquisitions and dispositions covering both business succession and purchase and sale of businesses which involves planning buy-sell agreements, related estate planning for owners, implementation of stock redemptions, mergers, dissolutions, multiple classes of stock, reverse stock splits, dissenter’s rights, split-offs or spin-offs, asset and stock purchases, and the related purchase financing, consulting and noncompetition arrangements, earn out provisions, and special security arrangements. Terry is a Rockford native who joined WilliamsMcCarthy in 1978, becoming a partner in January, 1980.
J.D., University of Illinois College of Law, with honors
B.A., Rockford College, Economics, summa cum laude
Terry has been involved in business purchase and sale transactions for parties in Arizona, California, Delaware, Florida, Illinois, Indiana, Iowa, Kentucky, Massachusetts, Michigan, Minnesota, Ohio, Tennessee, Texas, and Wisconsin, as well as China, Germany, Korea and the United Kingdom.
In addition, Terry has been regularly involved in assisting clients in developing incentive compensation arrangements to retain or attract management. More generally, Terry is involved with establishing and maintaining business organizations and governance arrangements for all types of legal entities. In the healthcare area, Terry’s experience includes working with physician groups on employment agreements, qualified retirement plans, buysell agreements, leases with related entities, practice dispositions, and the related estate and income tax planning. Terry also has over 15 years experience representing hospitals, retirement homes, nursing homes, supporting organizations, private foundations, and other exempt organizations dealing with not-for-profit and tax-exempt status issues.
In support of his practice area concentrations, Terry has served as a member of the Illinois Secretary of State Business Corporation Act (BCA) Advisory Committee since 1991, serving as Chairman in 2004 and 2005. Since 2005, the work of the BCA Committee has been carried on by the Institute of Illinois Business Law (IIBL) where Terry continues to serve. The IIBL meets bi-monthly to review proposed and existing legislation and offered suggestions and recommendations to the Secretary of State on the Business Corporation Act, the Not-for-Profit Corporation Act, the various forms of partnership and limited liability companies.