Thomas W. Hayes
Of Counsel
Office: Chicago
thayes@kdlegal.com
p: 312-651-2402
f: 312-651-2499
Tom Hayes is a member of the firm's Corporate and Estate Planning Practices. He brings decades of experience advising high-net-worth families and privately held businesses across various industries. Tom focuses on corporate transactional matters, trust and estate planning, and serving as general counsel. He is known for his strategic counsel on succession planning, trust formation, business transactions, and resolving disputes efficiently and effectively.
Before joining the firm, Mr. Hayes worked in the tax department of a national accounting firm. His ability to craft innovative, practical solutions has been instrumental in helping clients navigate shareholder and trust disputes, often avoiding the need for litigation.
Representative Experience
- Providing long-term counsel and planning for privately held businesses, their owners and the owners' families in connection with business formation, growth, and succession or exit strategies.
- After working with a client to understand the client's goals, developing an estate and trust plan to accomplish those goals in an appropriate and tax efficient manner.
- Counseling trustees, executors, and beneficiaries in the operation of long-term trusts and post death administration matters.
- Representation of both buyers and sellers of privately held businesses.
- Assisting business owners, and trust beneficiaries in resolving contentious matters outside of formal litigation.
Professional Associations
- Member, Chicago Bar Association
- Member, Chicago Estate Planning Council
- Member, Illinois Bar Association
Education
- J.D., University of Notre Dame Law School, Notre Dame, Indiana, 1976
- B.A. in Accounting, magna cum laude, University of St. Thomas, St. Paul, Minnesota, 1973
Bar & Court Admissions
- Illinois, 1976
- Minnesota, 1976
Practices
Golf
Travel
Business
Time Quickly Running Out: Important Reminders about the Corporate Transparency Act
November 5, 2024
Business
Corporate Veil Torn Apart? U.S. Supreme Court to Review Trademark Infringement Damages Case
August 1, 2024
Business
Supreme Court Opinion in Favor of IRS Requires Review of Shareholder Buy-Sell Agreements
June 25, 2024
Firm News and Events
Partner Sarah E. Jones Elected to Serve on the Board of Directors of the Association for Corporate Growth Indiana
May 24, 2024
Firm News and Events
Kendall A. Schnurpel Joins Krieg DeVault’s Business Practice; Will Focus on Tax Law
May 8, 2024
Business
Indiana Enacts Senate Enrolled Act 9 Requiring Notice of Certain Health Care Transactions
April 23, 2024
Business
Corporate Transparency Act Held Unconstitutional: What This Means for Your Business
March 6, 2024
Firm News and Events
Krieg DeVault Announces 8 Attorneys as 2024 Indiana Super Lawyers; 9 as 2024 Indiana Rising Stars
February 28, 2024
Estate Planning & Personal Services
Putting the PURPOSE in a Trust: Using a Purpose Trust in a Business Succession Plan
February 27, 2024
Business
Impact of AI in the M & A Sector: Key Advantages, Challenges, and Considerations
February 23, 2024
Firm News and Events
Partner Sarah Jones Selected as a 2024 Finalist of Indy’s Best and Brightest
January 31, 2024
Firm News and Events
Partner George C. Lepeniotis Elected to Krieg DeVault’s Executive Committee
January 2, 2024
Firm News and Events
Long-time Partner Mike Williams Named Chair of Krieg DeVault’s Business Practice
January 2, 2024
Estate Planning & Personal Services
Higher Estate and Gift Tax Exemptions for 2024...But How Long Will This Last?
January 2, 2024
Estate Planning & Personal Services
Avoid Leaving an Inheritance to Someone You've Never Met
December 13, 2023
Firm News and Events
Krieg DeVault Adds Associates Chloe Craft, Jacob O’Donnell, and Caleb Perez
October 11, 2023
Business
Tips for Negotiating Supply Agreement Terms and Conditions in an Uncertain World
September 27, 2023
Business
Is Your Business Ready? Preparing for and Complying with the Corporate Transparency Act
August 31, 2023
Firm News and Events
Frank A. Hoffman Joins Krieg DeVault’s Public Finance and Municipal Practice
July 31, 2023
Business
Three Minute Update: How Seller Financing Can Get a Deal across the Finish Line
July 18, 2023
Estate Planning & Personal Services
Chasing the “Worm” – Act Now to Use the Federal Gift/Estate Tax Exemption
June 8, 2023
Krieg DeVault Podcast Series
The Deal Within the Deal - Internal Dynamics Among Multiple Seller Owners in an M&A Transaction (Podcast)
April 13, 2023
Estate Planning & Personal Services
What to do with the Cuckoo Clock? Disposing of Tangible Personal Property in an Estate Plan
March 6, 2023
Firm News and Events
Krieg DeVault Announces 10 Attorneys as 2023 Indiana Super Lawyers; 9 as 2023 Indiana Rising Stars
February 28, 2023
Firm News and Events
Known By the Successful Company We Keep® - Krieg DeVault Issues Annual Ad Showcasing Transactions from Many of Our Valued and Successful Clients
January 30, 2023
Real Estate
Three Minute Update - Positioning for the Future: Non-Profits and Real Estate
January 10, 2023
Firm News and Events
Krieg DeVault Announces 2023 Partner Promotions of Sarah E. Jones, Micah J. Nichols, and Ann Marie Woolwine
January 1, 2023
Firm News and Events
Partner Brian M. Heaton Elected to Krieg DeVault’s Executive Committee
January 1, 2023
Firm News and Events
Amy L. VonDielingen Joins Krieg DeVault’s Business and Estate Planning Practices
November 28, 2022
Firm News and Events
Krieg DeVault Adds Associates Andrew N. Warner, Katelyn E. Doering, Alexus D. Lucas, and Michael J. Moser
November 1, 2022
Business
Three Minute Update - Positioning for the Future: Due Diligence Throughout the Process of a Deal
October 27, 2022
Estate Planning & Personal Services
Transferring Florida Real Estate - Tread with Caution
October 4, 2022
Firm News and Events
Deborah J. Daniels Named to IBJ Media’s Inaugural Indiana 250 List
July 21, 2022
Estate Planning & Personal Services
Estate Planning for Young Professionals and Families (Podcast)
May 4, 2022
Business
Three Minute Update - Doing a Deal: Practical Considerations Before the Sale of Your Business
April 27, 2022
Krieg DeVault Podcast Series
2022 Deal Landscape: Current Mergers & Acquisitions Market Trends (Podcast)
March 31, 2022
Estate Planning & Personal Services
Three Minute Update - Day in the Life of a Business: Will Your Business Continue to Thrive If You Do Not Survive?
March 31, 2022
Intellectual Property
Three Minute Update - Day in the Life of a Business: Consulting Agreements and Intellectual Property Considerations
March 2, 2022
Firm News and Events
Krieg DeVault Announces 13 Attorneys as 2022 Indiana Super Lawyers; 6 as 2022 Indiana Rising Stars
February 24, 2022
Secured Lender
Protecting Against Insolvency Risks related to Customers and Suppliers
November 18, 2021
Firm News and Events
Travis D. Lovett Joins Krieg DeVault’s Business, Acquisitions, and Securities Practice
September 15, 2021
Business
Senate Appropriations Committee Votes to Expand Vet Access to Medicinal Cannabis
August 9, 2021
Business
After Months of Waiting, We Finally Have Senator Schumer’s Cannabis Bill…Sort of
July 15, 2021
Health Care
Congress Reintroduces Marijuana Data Collection Act: Reevaluating Federal Marijuana Policy
June 28, 2021
Estate Planning & Personal Services
Estate and Gift Taxes: Do We Bet on Red or Black (Or Green)?
May 20, 2021
Secured Lender
Secure and Fair Enforcement (SAFE) Banking Act Passes U.S. House…Again
April 20, 2021
Business
House of Representatives Passes Historic MORE Act to Decriminalize Cannabis at Federal Level
December 4, 2020
Estate Planning & Personal Services
IRS Announces Higher Estate and Gift Tax Rates for 2021...But....?
November 16, 2020
Labor and Employment
Unpacking Schrems II: The Demise of the EU-U.S. Privacy Shield
October 20, 2020
Labor and Employment
IRS Issues Guidance Related to President Trump's Memorandum on Social Security Tax Deferral
September 1, 2020
Thought Leadership
PPP Safe Harbor for Loans Under $2M and Helpful Guidance for Loans $2M+
May 12, 2020
Litigation
If Our Company Gets Sued Because of COVID-19, Will We be Covered by Insurance?
May 10, 2020
Education and School Law
IRS Releases FAQs on Tax Treatment of Higher Education Emergency Relief Fund and Emergency Financial Aid Grants under CARES Act
May 10, 2020
Thought Leadership
UPDATED - Paycheck Protection Program: Confirm the Necessity or Return the Funds
May 5, 2020
Thought Leadership
Paycheck Protection Program: Confirm the Necessity or Return the Funds
April 29, 2020
Thought Leadership
SBA Issues Additional Interim Guidance on Paycheck Protection Program Clarifying Treatment of Self-Employment and Partner Income
April 15, 2020
Thought Leadership
Changes to Net Operating Loss Carryback Rules May Provide Opportunities
April 15, 2020
Thought Leadership
IRS Provides Guidance on Process for Claiming COVID-19 Related Payroll Tax Credits
April 2, 2020
Thought Leadership
Comparisons of the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP)
April 1, 2020
Thought Leadership
The CARES Act: Business and Individual Tax Provisions, Charities, and IRS Relief Measures
March 26, 2020
Firm News and Events
David E. Corbitt Named Chair of Krieg DeVault's Public Finance and Municipal Practice Group
January 8, 2020
Firm News and Events
George C. Lepeniotis Joins Krieg DeVault's Business, Acquisitions, and Securities Practice Group as Of Counsel Attorney
December 2, 2019
Thought Leadership
Indiana's New Legacy Trust: An Asset Protection Strategy for Hoosiers
May 22, 2019
Thought Leadership
IRS Updates Racial Nondiscrimination Publication Requirement for 501(c)(3) Private Schools
May 15, 2019
Thought Leadership
Is Your Organization in Compliance With IRS Rules on Employer Identification Numbers?
April 29, 2019
Firm News and Events
Corben A. Lee Joins Krieg DeVault's Business, Acquisitions, and Securities and Employee Benefits and Executive Compensation Practice Groups
January 27, 2019
Firm News and Events
Estate Planning Attorney Micah J. Nichols Joins Krieg DeVault's Business, Acquisitions and Securities Practice Group
December 27, 2018
Firm News and Events
Katherine D. Mayberry Joins Krieg DeVault's Business, Acquisitions, and Securities Practice Group
October 29, 2018
Firm News and Events
10 Krieg DeVault Attorneys Named to 2019 Best Lawyers in America Listing
August 14, 2018
Firm News and Events
Partner Brian M. Heaton Named to the Board of Directors of the Indiana Chapter of the Association for Corporate Growth
May 10, 2018
Firm News and Events
Krieg DeVault Partners John B. Baxter and Robert A. Greising Named to Chambers USA 2018 List
May 10, 2018
Firm News and Events
Robert A. Greising and Nicholas J. Anderson to Present at Tax Reform Workshop
February 8, 2018
Tom Hayes is a member of the firm's Corporate and Estate Planning Practices. He brings decades of experience advising high-net-worth families and privately held businesses across various industries. Tom focuses on corporate transactional matters, trust and estate planning, and serving as general counsel. He is known for his strategic counsel on succession planning, trust formation, business transactions, and resolving disputes efficiently and effectively.
Before joining the firm, Mr. Hayes worked in the tax department of a national accounting firm. His ability to craft innovative, practical solutions has been instrumental in helping clients navigate shareholder and trust disputes, often avoiding the need for litigation.
Representative Experience
- Providing long-term counsel and planning for privately held businesses, their owners and the owners' families in connection with business formation, growth, and succession or exit strategies.
- After working with a client to understand the client's goals, developing an estate and trust plan to accomplish those goals in an appropriate and tax efficient manner.
- Counseling trustees, executors, and beneficiaries in the operation of long-term trusts and post death administration matters.
- Representation of both buyers and sellers of privately held businesses.
- Assisting business owners, and trust beneficiaries in resolving contentious matters outside of formal litigation.
Professional Associations
- Member, Chicago Bar Association
- Member, Chicago Estate Planning Council
- Member, Illinois Bar Association
Education
- J.D., University of Notre Dame Law School, Notre Dame, Indiana, 1976
- B.A. in Accounting, magna cum laude, University of St. Thomas, St. Paul, Minnesota, 1973
Bar & Court Admissions
- Illinois, 1976
- Minnesota, 1976
Practices
Insights
Business
Time Quickly Running Out: Important Reminders about the Corporate Transparency Act
November 5, 2024
Business
Corporate Veil Torn Apart? U.S. Supreme Court to Review Trademark Infringement Damages Case
August 1, 2024
Business
Supreme Court Opinion in Favor of IRS Requires Review of Shareholder Buy-Sell Agreements
June 25, 2024
Firm News and Events
Partner Sarah E. Jones Elected to Serve on the Board of Directors of the Association for Corporate Growth Indiana
May 24, 2024
Firm News and Events
Kendall A. Schnurpel Joins Krieg DeVault’s Business Practice; Will Focus on Tax Law
May 8, 2024
Business
Indiana Enacts Senate Enrolled Act 9 Requiring Notice of Certain Health Care Transactions
April 23, 2024
Business
Corporate Transparency Act Held Unconstitutional: What This Means for Your Business
March 6, 2024
Firm News and Events
Krieg DeVault Announces 8 Attorneys as 2024 Indiana Super Lawyers; 9 as 2024 Indiana Rising Stars
February 28, 2024
Estate Planning & Personal Services
Putting the PURPOSE in a Trust: Using a Purpose Trust in a Business Succession Plan
February 27, 2024
Business
Impact of AI in the M & A Sector: Key Advantages, Challenges, and Considerations
February 23, 2024
Firm News and Events
Partner Sarah Jones Selected as a 2024 Finalist of Indy’s Best and Brightest
January 31, 2024
Firm News and Events
Partner George C. Lepeniotis Elected to Krieg DeVault’s Executive Committee
January 2, 2024
Firm News and Events
Long-time Partner Mike Williams Named Chair of Krieg DeVault’s Business Practice
January 2, 2024
Estate Planning & Personal Services
Higher Estate and Gift Tax Exemptions for 2024...But How Long Will This Last?
January 2, 2024
Estate Planning & Personal Services
Avoid Leaving an Inheritance to Someone You've Never Met
December 13, 2023
Firm News and Events
Krieg DeVault Adds Associates Chloe Craft, Jacob O’Donnell, and Caleb Perez
October 11, 2023
Business
Tips for Negotiating Supply Agreement Terms and Conditions in an Uncertain World
September 27, 2023
Business
Is Your Business Ready? Preparing for and Complying with the Corporate Transparency Act
August 31, 2023
Firm News and Events
Frank A. Hoffman Joins Krieg DeVault’s Public Finance and Municipal Practice
July 31, 2023
Business
Three Minute Update: How Seller Financing Can Get a Deal across the Finish Line
July 18, 2023
Estate Planning & Personal Services
Chasing the “Worm” – Act Now to Use the Federal Gift/Estate Tax Exemption
June 8, 2023
Krieg DeVault Podcast Series
The Deal Within the Deal - Internal Dynamics Among Multiple Seller Owners in an M&A Transaction (Podcast)
April 13, 2023
Estate Planning & Personal Services
What to do with the Cuckoo Clock? Disposing of Tangible Personal Property in an Estate Plan
March 6, 2023
Firm News and Events
Krieg DeVault Announces 10 Attorneys as 2023 Indiana Super Lawyers; 9 as 2023 Indiana Rising Stars
February 28, 2023
Firm News and Events
Known By the Successful Company We Keep® - Krieg DeVault Issues Annual Ad Showcasing Transactions from Many of Our Valued and Successful Clients
January 30, 2023
Real Estate
Three Minute Update - Positioning for the Future: Non-Profits and Real Estate
January 10, 2023
Firm News and Events
Krieg DeVault Announces 2023 Partner Promotions of Sarah E. Jones, Micah J. Nichols, and Ann Marie Woolwine
January 1, 2023
Firm News and Events
Partner Brian M. Heaton Elected to Krieg DeVault’s Executive Committee
January 1, 2023
Firm News and Events
Amy L. VonDielingen Joins Krieg DeVault’s Business and Estate Planning Practices
November 28, 2022
Firm News and Events
Krieg DeVault Adds Associates Andrew N. Warner, Katelyn E. Doering, Alexus D. Lucas, and Michael J. Moser
November 1, 2022
Business
Three Minute Update - Positioning for the Future: Due Diligence Throughout the Process of a Deal
October 27, 2022
Estate Planning & Personal Services
Transferring Florida Real Estate - Tread with Caution
October 4, 2022
Firm News and Events
Deborah J. Daniels Named to IBJ Media’s Inaugural Indiana 250 List
July 21, 2022
Estate Planning & Personal Services
Estate Planning for Young Professionals and Families (Podcast)
May 4, 2022
Business
Three Minute Update - Doing a Deal: Practical Considerations Before the Sale of Your Business
April 27, 2022
Krieg DeVault Podcast Series
2022 Deal Landscape: Current Mergers & Acquisitions Market Trends (Podcast)
March 31, 2022
Estate Planning & Personal Services
Three Minute Update - Day in the Life of a Business: Will Your Business Continue to Thrive If You Do Not Survive?
March 31, 2022
Intellectual Property
Three Minute Update - Day in the Life of a Business: Consulting Agreements and Intellectual Property Considerations
March 2, 2022
Firm News and Events
Krieg DeVault Announces 13 Attorneys as 2022 Indiana Super Lawyers; 6 as 2022 Indiana Rising Stars
February 24, 2022
Secured Lender
Protecting Against Insolvency Risks related to Customers and Suppliers
November 18, 2021
Firm News and Events
Travis D. Lovett Joins Krieg DeVault’s Business, Acquisitions, and Securities Practice
September 15, 2021
Business
Senate Appropriations Committee Votes to Expand Vet Access to Medicinal Cannabis
August 9, 2021
Business
After Months of Waiting, We Finally Have Senator Schumer’s Cannabis Bill…Sort of
July 15, 2021
Health Care
Congress Reintroduces Marijuana Data Collection Act: Reevaluating Federal Marijuana Policy
June 28, 2021
Estate Planning & Personal Services
Estate and Gift Taxes: Do We Bet on Red or Black (Or Green)?
May 20, 2021
Secured Lender
Secure and Fair Enforcement (SAFE) Banking Act Passes U.S. House…Again
April 20, 2021
Business
House of Representatives Passes Historic MORE Act to Decriminalize Cannabis at Federal Level
December 4, 2020
Estate Planning & Personal Services
IRS Announces Higher Estate and Gift Tax Rates for 2021...But....?
November 16, 2020
Labor and Employment
Unpacking Schrems II: The Demise of the EU-U.S. Privacy Shield
October 20, 2020
Labor and Employment
IRS Issues Guidance Related to President Trump's Memorandum on Social Security Tax Deferral
September 1, 2020
Thought Leadership
PPP Safe Harbor for Loans Under $2M and Helpful Guidance for Loans $2M+
May 12, 2020
Litigation
If Our Company Gets Sued Because of COVID-19, Will We be Covered by Insurance?
May 10, 2020
Education and School Law
IRS Releases FAQs on Tax Treatment of Higher Education Emergency Relief Fund and Emergency Financial Aid Grants under CARES Act
May 10, 2020
Thought Leadership
UPDATED - Paycheck Protection Program: Confirm the Necessity or Return the Funds
May 5, 2020
Thought Leadership
Paycheck Protection Program: Confirm the Necessity or Return the Funds
April 29, 2020
Thought Leadership
SBA Issues Additional Interim Guidance on Paycheck Protection Program Clarifying Treatment of Self-Employment and Partner Income
April 15, 2020
Thought Leadership
Changes to Net Operating Loss Carryback Rules May Provide Opportunities
April 15, 2020
Thought Leadership
IRS Provides Guidance on Process for Claiming COVID-19 Related Payroll Tax Credits
April 2, 2020
Thought Leadership
Comparisons of the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP)
April 1, 2020
Thought Leadership
The CARES Act: Business and Individual Tax Provisions, Charities, and IRS Relief Measures
March 26, 2020
Firm News and Events
David E. Corbitt Named Chair of Krieg DeVault's Public Finance and Municipal Practice Group
January 8, 2020
Firm News and Events
George C. Lepeniotis Joins Krieg DeVault's Business, Acquisitions, and Securities Practice Group as Of Counsel Attorney
December 2, 2019
Thought Leadership
Indiana's New Legacy Trust: An Asset Protection Strategy for Hoosiers
May 22, 2019
Thought Leadership
IRS Updates Racial Nondiscrimination Publication Requirement for 501(c)(3) Private Schools
May 15, 2019
Thought Leadership
Is Your Organization in Compliance With IRS Rules on Employer Identification Numbers?
April 29, 2019
Firm News and Events
Corben A. Lee Joins Krieg DeVault's Business, Acquisitions, and Securities and Employee Benefits and Executive Compensation Practice Groups
January 27, 2019
Firm News and Events
Estate Planning Attorney Micah J. Nichols Joins Krieg DeVault's Business, Acquisitions and Securities Practice Group
December 27, 2018
Firm News and Events
Katherine D. Mayberry Joins Krieg DeVault's Business, Acquisitions, and Securities Practice Group
October 29, 2018
Firm News and Events
10 Krieg DeVault Attorneys Named to 2019 Best Lawyers in America Listing
August 14, 2018
Firm News and Events
Partner Brian M. Heaton Named to the Board of Directors of the Indiana Chapter of the Association for Corporate Growth
May 10, 2018
Firm News and Events
Krieg DeVault Partners John B. Baxter and Robert A. Greising Named to Chambers USA 2018 List
May 10, 2018
Firm News and Events
Robert A. Greising and Nicholas J. Anderson to Present at Tax Reform Workshop
February 8, 2018