Carter Pfost is an associate in the firm's Tax and Trusts & Estates practice groups. His practice is focused on estate, tax, and wealth transfer planning, estate and trust administration, as well as advising on tax-exempt organizations, and tax classification elections for business formations.
Carter advises individuals and families on comprehensive estate, tax, and wealth transfer planning strategies, including the design and implementation of wills, revocable and irrevocable trusts (e.g., GRATs, SLATs, IDGTs, CRUTs), and advanced gifting techniques to minimize federal tax liabilities while preserving family legacies. He manages estate and trust administration processes, and oversees probate proceedings, asset distribution, resolution of fiduciary disputes, and trust modifications to ensure compliance with legal requirements and efficient transfer of assets.
He also advises clients on the formation and operation of tax-exempt entities, including 501(c)(3)s, private foundations, and charitable remainder trusts, and ensures compliance with key IRS technical regulations, including organizational/operational tests, private foundation excise taxes, self-dealing restrictions, minimum charitable distributions, and CRT-specific payout and deduction rules.
In addition, Carter’s practice includes guiding businesses through tax classification elections during entity formations to enhance operational efficiency and reduce tax exposure. He has developed tailored succession plans for family-owned enterprises to facilitate intergenerational transfers and mitigate potential conflicts and reduce transfer taxes, and he has conducted in-depth tax research and analysis on complex issues such as generation-skipping transfer taxes, qualified domestic trusts, qualified severances, cryptocurrency, and international estate planning for clients with cross-border assets.
*Not yet licensed to practice in Alabama. Admitted to practice only in Florida.