How do I pass on my business to my child?

Question

I own a small business that I would like to pass on to my son. It is an S-Corp and I am the sole shareholder. What is my best option?

Answer 1

put  him on your Articles of in Corportaion.

?

Answer 2

If you want to pass on the business while you are still living either make him a gift of the stock or include a stock option as part of his compensation package.

If you are talking about after you die just change your will.

Hope this helps

Jerry-the-bookkeeper