alley and his wife joanie live in lake forest, illinois and have three daughters, abby, hilary, and hannah all of whom played division i college lacrosse. in 2001, alley was inducted into the university of wisconsin athletic hall of fame. in september, 2011, alley was named to the inaugural class of the anoka high school hall of fame. alley is currently president of alley company llc, an investment management firm based in lake forest, il.