When Your Daddy Says: “Don’t Sell That Altria Or Philip Morris Stock”

I have been dialoguing with a reader who recently inherited 2,000 shares of Altria and 2,000 shares of Philip Morris International after her dad’s passing. Alongside the inheritance, she received the instruction from her dad, “Don’t sell either stock for the rest of your life.” The legality of the question isn’t worth exploring; courts generally don’t pay mind to the continuance of investments after they are distributed post-death, with the possible exception that some jurisdictions permit restrictions on selling ancestral family homes that have clear sentimental value and are intended for the use of multiple beneficiaries.

Of course, the social and psychological issue is much more fun to explore, anyway. The question I’d want to answer is this: Why do you think your dad gave you this instruction?

Without knowing much about your dad, I would hazard a guess that these two psychological forces are at play:

My first thought … Read the rest of this article!