Carl L. King, a Senior Partner in Culp Elliott & Carpenter P.L.L.C Trusts and Estates group, represents individuals, helping them to achieve their family, financial and estate planning goals while minimizing their potential estate, gift and income tax liabilities.
Carl has extensive experience implementing intergenerational transfers of wealth, using charitable entities, closely held business interests and life insurance strategies. Carl has drafted and implemented hundreds of complex gift and estate tax strategies including generation skipping trusts, family limited liability companies, installment sales to grantor trusts, grantor retained annuity trusts (“GRATS”) and a wide variety of charitable entities.
In recent years, Carl’s most rewarding professional work has included counseling families (all generations) during the creation and growth of family offices; providing legal advice with respect to some of the largest charitable gifts in North Carolina’s history; and advising families during the administration of the estates of loved ones.
Carl provides regular legal counsel to trusts and estates, advising them on sophisticated tax-saving opportunities, including disclaimers, tax elections and allocations, and other related matters, and defends them in gift and estate tax audits. Carl also represents foundations and public charities as an ongoing part of his practice.
Carl helps provide legal defense for trusts and estates when facing substantial claims from creditors or disgruntled beneficiaries; and conversely, Carl has helped beneficiaries and other constituents protect and enforce their claims against estates and trusts.
Prior to joining the firm, Carl worked for several years in the development office of a large Philadelphia-based charity before clerking for the Honorable William Bohling and the Salt Lake City Division of the United States Securities and Exchange Commission.