We recently looked at a publication by Dr. K. Shulman published in the Canadian Journal of Psychiatry.
It was intended to serve as a warning to other psychiatrists. However, it is also of great significance to a lawyer preparing a Will or Powers of Attorney and real estate agents buying or selling properties.
Here is a point made about age:
“The overall prevalence of dementia in a population aged 65 and over is about 8%, while in those over 85 the prevalence is greater than 30%. It is only at this great age that the prevalence becomes significant from a demographic perspective. However, this means that great age alone becomes a red flag.”
This means that at age 85, almost one in three will have some sort of dementia. Will it be sufficient to prevent them from going forward with a decision? Best to secure some advice and guidance. Ask the right questions!
A real estate agent would be foolhardy to proceed without careful notes.
It would also be helpful if the client had executed a Power of Attorney, to have their Attorney onside with any decisions.
Brian Madigan LL.B., Broker