Barry Lee Small

Practice Details

• Firm Information
  Position

  Partner

  Firm Name

  Duane Morris LLP
• Representative Cases & Transactions
  Cases

  Representative Matters: Counsel to individual client who desired to bequeath stock options to charities but was concerned about potential adverse income tax consequences to his estate. Obtained precedent-setting ruling from the Internal Revenue Service that exercise of stock options by charities would impose no income liability on the client, his estate or his heirs.
  Counsel to individual client who desired to make gifts to children in a tax-efficient manner. Analyzed
  developed a program of creating grantor retained annuity trusts to which client makes gifts each year.
  Counsel to individual client with respect to analyzing
  , ultimately, safeguarding a large number of insurance policies benefiting client's family that had been put in jeopardy by recent changes in the law.
  Counsel to individual client in connection with the sale of assets to a trust for client's descendants in order to accomplish client's objectives of transferring wealth to descendants in a tax-efficient manner.
  Counsel to individual client in connection with IRS examination of gifts made of interests in a family limited partnership to a number of family members. Obtained settlement with the IRS which was considerably more favorable to the client than the IRS' public stance
  the IRS' original claim against the client.
  Counsel to family members who owned policies of insurance on each other's lives, but desired to swap policies so that each owned the policies on his own life. Numerous tax issues were researched
  coordinated to make this transaction.