Frank G. Cooper

Practice Details

• Firm Information
  Position

  Of Counsel

  Firm Name

  Duane Morris LLP
• Representative Cases & Transactions
  Cases

  Representative Matters
  Counsel to the corporate trustee of a major grantmaking private foundation in connection with a litigated dispute concerning whether the fee clause in the governing instrument prohibited the client from increasing its compensation for services. After hearings
  briefs, the court overruled the objections of the co-trustee
  the Attorney General
  approved an increase in our client's compensation by approximately one hundred percent. Counsel to a private shareholder of a closely-held investment company in a transaction which resulted in transferring an excess of $250 million to younger generation family members at a nominal gift tax cost, including the successful representation of the client in the examination of the transaction by the Internal Revenue Service. Counsel engaged by a client after the IRS had proposed a $5 million gift tax deficiency as a result of client's gift to a child of an interest in a closely held business. We were successful in concluding the examination of the client's gift tax case where the deficiency was settled for less than $100,000. Counsel to a client who engaged our firm subsequent to making a $6 million charitable gift where it was discovered that such gift would not be deductible for federal income tax purposes. We were successful in effectively modifying the transaction so as to preserve the client's charitable objective as well as the intended income tax deduction.