Media Mentions
2009
Read Moore was quoted in the January 27 issue of Chicago Daily Law Bulletin about how people are passing their businesses on to their children because the business is probably worth less in these economic conditions and the gift tax is based on the value of a business. "People figure if they're going to pay tax, they might as well pay it when it's lower. So we've seen a lot of that," said Mr. Moore. "If you don't own assets, creditors can't get them. Everybody thinks the party's over with low tax rates and all that. But it remains to be seen," Mr. Moore added.
M. Read Moore, Private Client, Trust & Estate Controversy
2008
Read Moore was quoted in the April 21 edition of The New York Times about how if you help a family member and the gift exceeds a certain value and the IRS catches it, you could be forced to pay a gift tax as well as interest. One strategy for subsidizing relatives without having to pay gift tax is to pay medical and educational expenses. Especially with elderly parents, the chance to pay for medical expenses is an ''overlooked opportunity,'' said Mr. Moore.
