Katti Esp has practiced law in Bellingham since 1996, designing and implementing... more
Katti Esp has practiced law in Bellingham since 1996, designing and implementing individualized estate plans and assisting clients with the probate process. She collaborates with families and individuals and their financial planners to retain the greatest amount of wealth for family, friends, and charities. Katti also helps her clients limit the assets transferred to the government or uninte... view profile
A trust is an arrangement whereby someone owns and manages money or property for another person's benefit. Like a guardianship, a trustee has decision-making authority over the trust property, but no court is involved in the trustee's action–the person who creates the trust defines the scope of the trustee's power. There are many different trust types, including probate trusts, income trusts, spendthrift trusts, and educational trusts. For example, a living trust allows you to manage your property while you are alive and to direct who will manage it if you become incapable of doing so. In essence, you choose your own “guardian” in advance and avoid having the court do it for you. A trust attorney reviews the many reasons for establishing a trust with you, and can ensure your trust will be legally valid.