When you chamfer edges in 3ds Max you will notice that this sometimes results in corners that are not entirely composed of quads. When you attempt to apply a Turbosmooth or Meshsmooth modifier to the geometry, you end up with unpredictable results. Maintaining quads ensures that you are able to apply smoothing without encountering situations where the geometry deforms in unpredictable ways.
For this example, I will show how to chamfer edges on a cube and make sure that the edges and corners are entirely quads and hold up when smoothing. Note that editing vertex position is an optimization for better edge accuracy, it is not required in most cases.