What is one of the main reasons wealthy individuals use trusts?
The Biggest Wealth Transfer in History is Upon Us: Private Companies

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Business, Social Studies, Religious Studies, Other
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7th - 12th Grade
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To avoid paying taxes
To manage and distribute assets with specific conditions
To hide their wealth from the government
To increase their wealth
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common challenge faced by family-run businesses during succession?
Reducing operational costs
Expanding into new markets
Maintaining the same level of technical proficiency
Finding new customers
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to a US Census Bureau study, what percentage of family businesses do not survive the transition from the first to the second generation?
75%
25%
50%
66%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of the US's gross national product was made up by family-run small to medium-sized enterprises in 2019?
25%
50%
75%
100%
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential consequence of 50% of family businesses failing?
Improved supply chain efficiency
Higher consumer spending
Job losses and productivity declines
Increased tax revenue
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