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Sharing Family Assets

Eddie Kramer
Mike Switzer/SC Public Radio

Young children are often reminded by their parents of the importance of sharing, especially with their brothers and sisters.  Our next guest though, says that adult siblings can find sharing a little more difficult, when there’s a beach house or some other property involved.  Not to mention if there are in-laws, nieces and nephews involved, as well.  What should the rules be for sharing family assets?

Mike Switzer interviews Eddie Kramer, a certified financial planner with Abacus Planning Group in Columbia, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.