I have heard about an - MS Estate Planning

In general, the drawback of S corporations is the maze of complexity that shareholders and their advisors must consider in formation and operation. ?There are many restrictions for an S corporation that do not apply to other pass-through entities. ?These restrictions include the following:

• Only a domestic corporation may file an S corporation election.
• An S corporation cannot have more than 100 shareholders.
• Generally, only natural persons can be shareholders. ?Certain other organizations can also be shareholders, such as the following: the deceased shareholder's estate; a bankrupt shareholder's estate; specified trusts, including qualified subchapter S trusts, and electing small-business trusts; and specified tax-exempt organizations.
• An S corporation cannot have a nonresident alien as a shareholder.
• An S corporation cannot have more than one class of stock.
• Certain businesses are prohibited from operating as S corporations.
• S corporation status can be terminated inadvertently.

Excerpt from The Complete Guide to Estate and Financial Planning in Turbulent Times (Collaborative Press, 2011) - Walt Dallas, Contributing Author

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Source: http://blog.estateplanning123.com/2013/01/business-planning-i-have-heard-about-an-s-corporation-what-does-that-mean-and-what-is-the-difference-1.html

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