The Wright Firm of Annapolis, Maryland
The Wright Firm is an Estate Planning and Trusts Law Firm located in Annapolis, Maryland. Richard T. Wright and his staff concentrate their practice solely in the areas of Estate Planning, Planning for Incapacity & Long Term Care, Asset Preservation, and Estate & Trust Administration. Mr. Wright is highly respected by his peers and demonstrates a deep knowledge of Maryland Estate and Trust Law.
Richard T. Wright's Involvement in Maryland Estate Laws
Mr. Wright has been active in drafting and securing the passage of a number of Maryland estate and trust laws enacted by the Maryland State Legislature:
[expand title=”Read More” swaptitle=”Read Less”]- The Maryland General and Limited Power of Attorney Act (Maryland Code Ann. Estates and Trusts Article Title 17), including the drafting of the Maryland Statutory Form Personal Financial Power of Attorney;
- Subtitle Five (“Creditors Claims; Spendthrift Trusts and Discretionary Trusts”) of the Maryland Trust Act (Maryland Code Ann. Estates and Trusts Article Title 14.5, Subtitle 5) prescribing the statutory rights and protections for Maryland creditors and trust beneficiaries;
- Extension of Tenancy by the Entirety Asset Protection to Marital Transfers in Trust (Maryland Code Ann. Estates and Trusts Article Section 14.5-511)
- Legislation authorizing a Maryland state-only qualified terminal interest property (“QTIP”) marital deduction election for Maryland Estate Tax purposes (Maryland Code Ann. Tax-General Article Section 7-309(b)(5-6))
- Legislation exempting assets held in lifetime irrevocable marital QTIP Trusts from claims by individual creditors of either spouse (Maryland Code Ann. Estates and Trusts Article Section 14.5-1003)
- Legislation exempting transfers of real property to and from trusts from Maryland transfer and recordation tax (Maryland Code Ann. Estates and Trusts Article Title 14.5, Section 1001(b))
- Legislation exempting transfers of motor vehicles to and from trusts from Maryland excise taxes and title fees (Maryland Code Ann. Estates and Trusts Article Title 14.5, Section 1001(c))
- Legislation authorizing valuation of a decedent’s property for Maryland inheritance tax purposes using HUD-1 settlement statements for sales within one year of a decedent’s death (Maryland Code Ann. Estates and Trusts Article Section 7-202(g))
- Maryland trustee insurable interest legislation reversing decision in Chawla v. Transamerica Occidental Life Insurance Co., 2005 WL 405405 (E.D. Virginia) (See Maryland Code Ann. Insurance Law Article Section 12-201(b)(5-6))
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Our Experience Provides Creative Solutions
For over 40 years, Annapolis-based The Wright Firm has served the legal needs of the Anne Arundel County Community. By focusing our entire practice on estate and asset preservation planning, wills and trusts, and estate and trust administration, we bring an extensive background of experience and knowledge to provide our clients with creative solutions designed to assure their peace of mind and maximized opportunities for their families.
Our Mission is Our Clients' Peace of Mind
We empower our clients to preserve their lifestyle, to plan for unforeseen risks, and ultimately to pass their values and success to their loved ones and cherished causes. We minimize taxation and costs that divert affluence from intended beneficiaries. We suggest and implement creative solutions that will assure for our clients’ families: security, harmony, and the opportunity to achieve the full potential of their personalities, talents, and ideals.