Did you know that 141 out of every 1,000 New Yorkers over the age of 60 have experienced some act of elder abuse? Moreover, elder abuse is not always in the form of physical mistreatment. The practice is sometimes executed via financial exploitation.
Although formulating an estate and long term care plan is an important step towards financial security, many people fail to have even the most basic plan and advanced directives. One potential hurdle is a fear of putting together a poor plan. Having a basic understanding of these common mistakes can help reduce the risk of making some unfortunate errors. The following are examples of the most common errors made: