Many older people save their money in order to leave something to their families when they pass on. That is not always the best approach, says Penny Pennington, managing partner of wealth management firm Edward Jones, who suggests that parents and others explore what she calls “giving while living”—distributing portions of their estate to younger relatives before they die.
In an interview with Fortune, Pennington explained that a growing number of Edward Jones’ 9 million clients are embracing “giving while living” both for personal and practical reasons.
