Well, more information has arisen over the last while about the proposed redevelopment of Saint Paul waterfront where the old Ford assembly plant stood for many years. As I mentioned in my last article concerning this site, this is an unprecedented opportunity for the upgrading and development of a prime piece of Saint Paul real estate and there are many looking forward to this project with great interest. Recently a Colliers market study of this site was conducted and some interesting points were brought forth about the positive aspects that this site brings to the table. These strengths speak highly of the potential of the projects and the positive impact that it could well have on the city and it's visual aspect and economic future.
Collier's had some good points regarding the old Ford site, the least of which is the stunning views of the river from atop the bluff. Taking a look at what is in store, there will be some of the finest views in the entire city from this area. Also, as this is an established neighborhood with a long and storied history there is a real neighborhood identity that has arisen over the years. An identity that will likely stay intact with the revitalization of the ford site and carry the area forth into a new era of prosperity. The strong character of this area will play an integral part in the success of the new development as it will help to provide stability and direction during the actual construction phase. It is looking as if the homes in this development are going to be extremely hot properties once complete. as this site is located in the heart of the city it looks to be a vital and exciting area.
The Collier's study also showed real evidence of a strong market for single family homes, not only in the Highland Park area but the potential for a strong market on the proposed site as well. The plans are calling for homes at all price levels and the area is perfect for apartment, condo and even senior's living developments. All in all there is huge potential in the Ford site that the city of Saint Paul is taking the time to plan properly for. The plan has outlined specific districts for residential and commercial development and a strong mix of these will form the nexus of what could prove to be the most exciting and influential development in Saint Paul's history.
Estate planning is an important financial aspect as it will ensure that your family is financially strong after your death. If you are living in St. Paul or have assets or estate in St. Paul then the best place to start is at the office of a St. Paul estate planning lawyer. First, you will need to understand what an estate plan really constitutes.
To start with, estate planning comprises of several elements like a creating a will, assigning a power of attorney, and having a living will, which is sometimes called the healthcare proxy or medical power of attorney. Estate planning can also involve the creation of a trust. Now you will not be able to put together an estate plan all by yourself and will require the expertise St. Paul estate planning lawyer because while putting the estate plan together, you have to keep in mind the federal laws as well as the Minnesota state laws that govern estates.
The first and the foremost thing that you need to do is take inventory of all your assets. Now when we say assets, it will include everything from retirement savings to your investments, insurance policies, as well as real estate property. A St. Paul estate planning lawyer will be able to guide you through the process but you need to ask yourself a few questions first and they are: Q1: Who do you think should inherit your assets? Q2: If you were incapacitated, who do you think should be assigned with the power of attorney or to handle your finances?
The second important part of estate planning is the will. A will can make things easier as it will let everyone know who the assets will go to or who are the heirs to your real estate property? You can even name a guardian for your children in the will. Normally, if a person were to die without leaving behind a will then it is considered as dying "intestate", which can prove to be an expensive deal for the heirs.
The third important part of estate planning is a trust and a St. Paul estate planning lawyer can help you create one if required. A trust is a legal mechanism, which is normally used as a condition related to how your assets should be distributed and when they should be distributed. There are some trusts that can offer protection to your valuable assets from any creditors or even lawsuits.
The fourth important part of estate planning is discussing your plans with all or any of your heirs. This can be conducted in front of an estate planning lawyer as well because your lawyer is better equipped to explain the details of your estate plan. Discussions to a great extent can prevent future confusion and even disputes. After all, the last thing you would want is a conflict between your heirs.
There are several other technical aspects of estate planning, which a St. Paul estate planning lawyer has experience and expertise in and hence will be able to provide you with necessary guidance.
Both Matt Barker & Clint Jhonson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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