All these questions are based on the following fact pattern: Family Corp. is a C corporation owned in four equal shares by Dad and his three children. Each of them owns 25 shares of a total 100 shares issued and outstanding. Dad's plan is cash out his investments, that is, have his shares redeemed by the corporation or sold to his children, so that his children will be the sole owners of the corporation. These are the questions you'll need to answer with regard to this fact pattern: 1. Describe the tax consequences to all of the members of this family if Dad just sells his stock to his children, and compare it to the tax consequences if his shares are redeemed by the corporation. Does it make a difference if his shares are redeemed all at once as opposed to redeemed incrementally over time? 2. Describe the tax consequences to all members of the family if Dad's shares are not sold or redeemed during his lifetime, but instead are sold or redeemed after his death. 3. How would your answers to the above two questions change if Family Corp. were an S corporation rather than a C corporation