If you own a business that is set up at an S Corp, you want to make sure the S Corp status is not lost upon death. If stock in an S Corp passes at death into an ineligible trust the S Election may be lost. Only certain trusts, specifically "qualified sub-chapter S trusts" and "Electing Small Business Trusts" qualify as S Corp shareholders. In order to prevent the loss of the S Election, you want to make sure your estate planning document provides the appropriate language.
Contact our offices at http://www.ythlaw.com/ to get the expert legal advice that you need for all your probate and estate planning needs.
Contact our offices at http://www.ythlaw.com/ to get the expert legal advice that you need for all your probate and estate planning needs.
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