Joshua Rubenstein, Chair of the firm’s Trusts and Estates Practice, was quoted in an article in Forbes on how to preserve family assets in preparation for federal estate taxes, which are set to return in January 2011 at a higher rate than in 2009. Mr. Rubenstein advises reviewing life insurance policy ownership and funding college savings plans. “Don’t die owning life insurance,” he says. “It’s like giving away money.” Instead he suggests making the recipient of the insurance proceeds the policy owner. Mr. Rubenstein also explains that annual exclusion gifts can be applied to Section 529 state college savings plans. Even young parents can take advantage of this estate planning tool by naming the other parent as the successor owner of the account. He adds that if the surviving parent doesn’t touch the money, it won’t be counted as part of either parent’s estate. (“Prepare for the Return of the Estate Tax,” June 28, 2010)