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Broady Windsor Group PodcastA New Category of Real Estate Author: The Broady Windsor Group
The only real estate podcast for homeowners seeking guidance and support on everything related to owning a home. This includes much more than just buying or selling. You'll enjoy candid, insightful conversations with super interesting guests on everything from mortgages and financing to home maintenance tips, renovation & design advice, and of course the latest insights and analysis on whats happening in our local West Island of Montreal real estate market. Check out https://broadywindsor.com/ or connect with us on Facebook, Instagram, LinkedIn and YouTube. Language: en Genres: Education, Home & Garden, Leisure Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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What to Do When a Parent Becomes Incapacitated
Episode 29
Monday, 29 September, 2025
This episode explores why families must start planning for incapacity before a crisis hits. Scott and Nada walk through the legal consequences of waiting too long — especially when it comes to selling a home, managing finances, or accessing medical records for an incapacitated loved one.Legal inaction can lead to delays, stress, and costly consequences during already emotional moments.📝 Wills, Mandates & Power of Attorney: What’s the Difference?Nada explains the major distinctions between the three documents:Will: Comes into effect after death. Outlines asset distribution and guardianship for minors.Power of Attorney: Grants someone the authority to manage your finances while you're still of sound mind.Mandate of Protection: Activates only after incapacity and includes authority over both financial and medical decisions.Pro Tip: Having a will doesn't protect you during incapacity. You need a separate mandate.🧠 What Is Incapacity and How Is It Declared?Nada breaks down the definition of incapacity, which often involves cognitive decline (e.g., Alzheimer’s or dementia). To officially declare someone incapacitated, two assessments are required:A medical evaluation from a doctorA psychosocial report from a licensed social workerOnly after these can a mandate of protection be homologated and put into effect.🔒 Homologation: The Step Everyone MissesHomologation is the legal process of activating a mandate. Without it, even a valid mandate won't be accepted for selling a home or managing bank accounts.Real estate impact: If a parent is incapacitated and the mandate isn’t homologated, notaries will not sign off on a property sale — causing long delays.⚠️ What Happens Without a Mandate?If no mandate is in place, the court must intervene and assign a legal representative through a tutorship. This is a more complex, time-consuming process and requires:Formation of a tutorship council (3 members + 2 substitutes)Court approval for any financial transactions over $40,000Additional reporting and verification stepsResult: More red tape, more stress, and longer delays.👨👩👧👦 Who Should Be on Your Advisory Team?Nada recommends building a trusted support network early. This may include:A notary who specializes in mandates and homologationsA family doctor or geriatric physicianA social worker for assessmentsA financial advisor or wealth managerYour real estate brokerAn accountant or estate lawyerBest practice: Get everyone on the same page before a crisis occurs.💡 Real-Life Examples & Lessons LearnedScott shares personal and professional stories where lack of preparation led to:Frozen bank accountsProperty sales blocked for over a yearFamily members scrambling to establish tutorshipLoss of healthcare benefits due to inability to file taxesNada shares how even a simple mandate could have prevented these outcomes.✅ Bottom Line: Plan Early, Plan SmartHave open conversations with parents and loved ones while they are still of sound mindDraft a will and mandate of protectionHomologate the mandate as soon as incapacity beginsBuild a support team of professionals to help guide the process🎧 Listen if You’re:An adult child caring for aging...
