Finances at the end of life present a major concern for both patients and their families. Financial planners are in a unique position to help clients through these difficult times. Dr. McClanahan will review how to comfortably approach end of life situations and work with patients on specific end of life financial concerns. The first part of the session will cover how to respond when a client calls to share their new diagnosis. The next step is how to approach the conversation about finances with serious illness. She will then cover tax planning, income planning, and beneficiary issues that need to be addressed through each stage of advanced illness. You will come away with a new comfort and appreciation on ways to help families through the end of life process.
About Dr. McClanahan:
Carolyn McClanahan, M.D., CFP® is the founder of Life Planning Partners, Inc.
Dr. McClanahan began her career as a physician in 1990 after completing her undergraduate degree at Mississippi University for Women and medical school at University of Mississippi. She completed her residency in Family Medicine at the Medical College of Virginia. After a couple of years in private practice and emergency medicine practice in Richmond, Virginia, she returned to the Sunny South of Jacksonville, Florida to teach on faculty at the University of Florida, Shands, Jacksonville. She also worked in various emergency departments in the Jacksonville area.
Finding that most financial planners were mainly interested in managing her portfolio and not in providing the advice she needed, she enrolled in the CFP® curriculum at the University of North Florida. Realizing the similarities between medicine and financial planning, and feeling more empowered by being able to help people plan for their future, Dr. McClanahan decided to make a career change into financial planning.
In addition to working in her financial life planning practice, Dr. McClanahan provides education to financial planners and health care professionals on the interplay between health and financial issues, particularly regarding insurability, health care costs, and health care reform. She writes for Barron’s, Forbes, and CNBC covering issues intersecting money and medicine. Investopedia ranked her as a top 10 advisor making significant contributions to critical conversations about financial life-stage planning.
Dr. McClanahan is a member of the National Association of Personal Financial Advisors (NAPFA,) the Financial Planning Association, and the American Academy of Family Physicians. She serves on the CNBC Financial Advisor Council and is quoted regularly in numerous publications such as The Wall Street Journal, New York Times, and the Washington Post. She has also appeared on CNBC, Hardball, AC360, and NPR.