A. Clay Cox is one of the leading business attorneys in central Illinois and the Managing Partner of Cox & Associates, LLC, in Bloomington. With nearly forty years of experience, Mr. Cox practices primarily in the areas of business organization law (including corporations, partnerships, and limited liability companies), bankruptcy law, estate planning and probate, employee benefits, and tax law.
Now proudly working alongside his sons, Christopher and Patrick, Clay has had ambitions to work in business in one form or another from a young age. After earning a bachelor’s degree in accounting from the University of Missouri in 1976, Clay initially decided to pursue a career in accounting. But as he tells it, he quickly realized that a law degree would make for an excellent complement:
I always knew that I was interested in working in a business area. As I was getting my accounting degree, I was drawn to the tax law aspects of it, and it seemed like a logical adjunct to accounting. I didn’t really want to be an auditor or anything like that; I wanted to do something more. So putting the two together made sense.
Mr. Cox was accredited as a Certified Public Accountant in 1979 and earned his Juris Doctor from the University College of Law that same year. It didn’t take long for Cox to expand his practice beyond accounting and tax matters, and he soon accepted a position as a U.S. Bankruptcy Court Trustee. Over the course of his twenty-two years as a trustee, Clay oversaw thousands of bankruptcy cases, both large and small.
Today, Mr. Cox leverages his extensive knowledge of both sides of the bankruptcy process to help families and businesses struggling with financial difficulties. He also continues to focus on tax matters as well as a broad range of other business matters, with a particular emphasis on business formation, among many other areas of the law.
As the Managing Partner of Cox & Associates, Mr. Cox leads a team of four talented attorneys whose clientele ranges from sole proprietors to large corporations. “We represent clients as large as a corporation that owns about fifty nursing homes throughout the state of Illinois,” he notes, “all the way down to representing individual farmers and single member limited liability companies.” In addition to business law, the firm also handles real estate and family law cases as well as guidance through the estate planning and the probate process.
With an eye toward providing ever-better service to his clients, Mr. Cox always seeks to stay ahead of the curve on the latest trends in business. Fortunately, his decades of experience give him unique insight into prevailing changes and developments. Commenting on what is currently capturing his attention, Mr. Cox notes:
The biggest trend that I’m seeing right now is a conversion away from corporate entities to limited liability companies. Being an LLC offers businesses much more flexibility.
Nearing his fifth decade in practice, Mr. Cox continues to be a dynamic and passionate attorney capable of providing clients with industry-leading representation in many different legal areas. Looking to the future, he intends to keep growing the firm as he mentors younger associates who are sure to benefit from Mr. Cox’s extensive experience.
Beyond his practice, Mr. Cox is a dedicated member of his community and actively participates in local nonprofit organizations. A resident of Bloomington-Normal for over thirty years, Mr. Cox has served the community as President of the McLean County Arts Council, Treasurer of the Bloomington/Normal YMCA, Secretary of the Illinois Prairie Community Foundation, and a volunteer for youth sports.