Question from a reader:
I am troubled about my father’s condominium. My 85-year-old father still has about 3 million yen left on his mortgage. Recently, he has shown some signs of dementia. I need to sell the condominium to cover my father’s living expenses, but will it become difficult to sell if his dementia progresses? I have heard that using the
adult guardianship system can be costly, so I would like to avoid that. Is there a good way to handle this? My mother is undergoing cancer treatment and is receiving care at home from my unmarried sister, but the household income is only about 200,000 yen from pensions.
Concerns about the condominium in my father’s name: Issues of dementia and sale
Thank you for your question. It is indeed a very concerning situation that your 85-year-old father has a remaining mortgage on his condominium and is showing some signs of dementia. As a family, I believe you are reaching a time when you need to consider financial uncertainties and future living arrangements. First, I will address your question about whether it will become difficult to sell as dementia progresses. Generally, as dementia advances, the ability to make decisions declines. This is very relevant when it comes to selling the condominium. If your father reaches a point where he can no longer make decisions regarding the sale, you will need to utilize the adult guardianship system to carry out the legal procedures.
What is the adult guardianship system?
The adult guardianship system is designed to support individuals who cannot make decisions due to dementia or mental disabilities. By utilizing this system, a guardian can manage the person’s assets and living arrangements. However, to become a guardian, you need permission from the family court, and the process can be time-consuming and costly. This is likely the point you want to avoid. I have also faced issues with elderly family members. My grandfather developed dementia, and we used the adult guardianship system, but the procedures were complicated, and I was truly bewildered at first. It caused some unnecessary stress, but ultimately, the support from the guardian was helpful.
How to sell the condominium
Now, regarding the sale of the condominium, the key is to proceed smoothly before dementia progresses. First, it is important to confirm your father’s intentions. It would be best to discuss moving forward with the sale while your father still has decision-making capacity. 1. Consult with a real estate agent Start by consulting a real estate agent to get an assessment of the current value of the condominium. Hearing an expert’s opinion is very important as the first step. 2. Obtain your father’s consent It is necessary to obtain your father’s consent for the sale. If you can achieve this, the process can proceed smoothly. Of course, it is also crucial to explain the reasons for the sale and the subsequent living arrangements thoroughly. 3. Registration procedures Once the sale is decided, registration procedures will be necessary. The real estate agent will likely assist with this as well.
Things to consider before dementia progresses
It is important to prepare as much as possible before your father’s dementia progresses. Through discussions with the entire family, reaching an agreement about future living arrangements is necessary to avoid potential troubles later on. – Discussion about asset management It would be good to discuss who will manage the assets and what kind of support will be needed. – Planning for medical and nursing care Since your mother is also undergoing treatment, she may require care in the future. I recommend researching nursing care insurance and medical assistance early on. – Support system for daily living You mentioned that your sister is taking care of him, but if further support is needed in the future, it is also necessary to consider how to implement that.
Costs of the adult guardianship system
One concern when utilizing the adult guardianship system is the cost. Indeed, appointing a guardian incurs fees, and increasing financial burdens is something you would want to avoid. However, in some cases, using the guardianship system can help avoid unnecessary troubles. Ultimately, it is essential to carefully consider which option is best based on your family’s situation and your father’s condition. I have also considered several options to resolve financial issues within the family. Ultimately, by using the adult guardianship system, I was able to protect my family with peace of mind. Of course, there are costs involved, but in the end, I believe the sense of security for the entire family was worth it.
Conclusion
The issue regarding your father’s condominium is a challenge that many families may face. Preparing as much as possible before dementia progresses can help alleviate the burden on the entire family. Please consider discussing with your father the possibility of moving forward with the sale. If necessary, seek advice from professionals to ensure a smooth process. For the future of your family, let’s take steady steps forward. I understand there may be many worries, but let’s think positively. I hope your family can build a better future.