eachperson, I've read Crimson King is somewhat particular in regards to how much water it gets. We year, huh?

Any other maples nearby look ok?

Large strips of the trunk are peeling off (6 ft.), premature leaf drop last year, only one branch has new leaves this year, the top of the maple next to it is dead with thin leaf production this year. I water the shrubs & lawn around them on a reg. basis, usually one to two times a wk. Lg. leaf maples in the green belt around our tract have died & fallen. Any suggestions?? I need to have them taken down in case of a wind & falling on the house. They are about 30 & 40 ft. tall.

root rot or some sort of soil disease maybe

It could be Verticillium Wilt. I've recently discovered that I have that problem in my yard (soil-borne bacteria). I have lost 2 Japanese Maples, a Vine Maple, a Silk Tree and a Smoke Tree to this. I have 3 other Japanese Maples and a 22' Autumn Blaze Maple that I am hoping won't succumb.

On the trees I lost, I had the bark coming off in strips or patches, with some sort of powdery stuff underneath (I originally thought it was scar tissue, but it was very dry and powdery). When you cut a decent sized branch, you will see dark stains in an arch in the cambium layer. I had my local Cooperative Extension Office confirm what my Maple had. When I researched it, I found that there is a whole list of plants/trees that are susceptible, but it appears that Maples are about the most susceptible of all. If you discover that this is the problem your maple has, you will want to make sure that when you replace the tree, that you don't plant anything that is susceptible, as the bacteria can remain in the soil for about 15 years and there's no known cure at this time.

Do a search for "Verticillium Wilt" "Maple" and you will find quite a lot of info that may help you in determining whether this is the problem or not.

Hope this helps.