The resource guide developed jointly by the MACPA and Hospice of Michigan (HOM) to address end-of-life financial questions will be available to MACPA members on September 28, 2006. The online publication will be offered to CPAs to use as a resource in working with clients, just as HOM social workers and grief support staff have used the 54-page guide over the past several months.

Members of the MACPA Financial Literacy Task Force and HOM joined forces to create this resource to allow social workers and grief support staff to quickly and effectively answer their patients’ financial questions. Sometimes these patients only have days to live. Who better than trusted CPA advisors to develop a financial resource guide for Hospice of Michigan?

“Our joint effort allowed us to tap into the expertise of MACPA, as Hospice of Michigan fully considered the needs of its patients and staff,” said Mary Foerg, project specialist for the Maggie Allesee Center for Quality of Life at Hospice of Michigan, who worked extensively with CPA volunteers on the project.

The result of this collaborative effort is a 54-page guide titled, “Financial Affairs at the End of Life: A Resource Guide for Social Workers and Grief Support Services Managers,” which provides critical information to address patients’ most pressing financial questions immediately.

The book is organized into five main sections – “Gathering and Organizing,” “Planning,” “Meeting Financial Needs,” “Survivors’ Issues” and “Resources,” and includes an extensive glossary. It covers a wide range of financial issues that are faced by the patient and his/her family, including guardianship, property, funeral planning and much more. Numerous worksheets are included in the guide, such as comprehensive checklists for assets and liabilities.

How It All Began
Between December 2004 and August 2005, the MACPA’s 10-member Financial Literacy Task Force spearheaded the project along with key Hospice employees. Individuals from both organizations spent countless hours identifying needs and diagramming and revising the guide.

MACPA members and HOM staff met frequently to review their work and brainstorm. HOM employees helped CPAs understand what information was critical for social workers to know to help their patients, while the CPA volunteers took great care to present the information with language readily understandable to non-financial experts.

In September 2005, guides were distributed to HOM staff in conjunction with instructional sessions conducted by the MACPA Task Force members.

“CPAS are truly committed to making a difference in the community,” said Peggy Dzierzawski, CAE, MACPA President and CEO. “The passion our members have for this project is incredible. They not only dedicated their time and expertise to develop this wonderful resource, they also provided training to hospice staff on how to use it with their patients. I just can’t say enough about how honored I am to work with CPAs who are so committed to giving back. Because of their efforts, patients and families throughout the state are being empowered with financial information that they can trust during an extremely difficult time.”

Commitment to the project has not wavered, despite the fact it’s been ongoing for almost two years. MACPA members are currently working on updating the guide to ensure it includes the most current information.

Members should log on to the MACPA web site on September 28 to access this valuable tool.

“Financial Affairs at the End of Life: A Resource Guide for Social Workers and Grief Support Services Managers,” was created through a partnership between the MACPA and HOM, in collaboration with The American Institute of Certified Public Accountants’ 360 Degrees of Financial Literacy.

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