In the late 1990s, a long-time client of the firm died. The client owned 100% of a successful professional services business as well as numerous real-estate investments. The family chose an attorney with Culp Elliott & Carpenter to serve as executor of the estate and trustee of the client’s trusts. Traditionally bank trust departments are […]

Culp Elliott & Carpenter represented Phantom Industries, Inc., a Canadian textile manufacturer, in the successful negotiating, structuring and drafting of Phantom’s agreement to purchase the operating assets of North Carolina-based Glendale Hosiery, Ltd. Phantom, a proven leader in the manufacture and distribution of hosiery products, wanted to establish a presence in the United States and […]

Never pay unnecessary taxes. That was Culp Elliott & Carpenter’s philosophy when it helped a client withdraw assets from two entities – a large family limited- liability company and a family real-estate corporation – without paying taxes. The family LLC was a large multi-tier real-estate company and the corporation was a related real-estate management and […]

A Culp Elliott & Carpenter real-estate investment client hoped to sell residential apartment complexes as a tax-free exchange. The family had owned the apartment complexes for more than 20 years. Constant tenant turnover, along with upkeep and repair of these older structures, had become an increasing burden. Family members also believed that residential real estate […]