I have an S-Corp that I want to add 3 co-owners with equal shares to. What is the quickest way to do that?

Question

Is possible to do it without going through an attorney or accountant?

Answer 1

I'm sure it's possible, but why ? It shouldn't take much for a lawyer to prepare the papers.
S-Corps are tricky animals. They have restrictions that a normal C-Corp doesn't. One shareholder violating the S-Corp laws can make the entire entity a C-Corp. You want to protect yourself against your partners activities which could jeopardize the S-Corp status.

Must be an eligible entity (a domestic corporation, a partnership or a single-member or multiple member limited liability company).
Must not have more than 100 shareholders.
Shareholders must be U.S. citizens or residents, and must be natural persons, so corporate shareholders and partnerships are to be excluded.
Must have only one class of stock.
Profits and losses must be allocated to shareholders proportionately to each one's interest in the business.