Johnson & Johnson Common Stock Holdings
I’m 90 years young and my wife is 85. Both of our adult children are deceased…suddenly. We have a Family Living Trust in place with two adult grandchildren Trusts in place.
QUESTION: Would you suggest I sell a portion (5,000 to 10,000 shares) of my J&J stock now, in view of the market fall, or continue to hold it because of its years of consistent dividend payout?
NOTE: I’am a J&J retiree.
Terry Says
Oh, I am so sorry for the loss of your children. But I am relieved that you have done some new estate planning. Don’t sell that stock — unless you think you will need the money. I presume you still have big gains and would have to pay taxes. But if your grandchildren inherit it, their cost basis will be the value as of your date of death. They can then sell without paying any taxes!
Again, this presumes you won’t need the cash from selling stock to pay your living expenses.
