I’m healthy and a former pensions minister… but this is why I’ve at 60 I’ve already given my children power over my finances: STEVE WEBB reveals what you must do before it’s too late

Most of us would rather avoid thinking about a time when we’re no longer well enough to make our own decisions. It’s far easier – and more enjoyable – to daydream about the happier days we have ahead.

But I know first-hand just how worthwhile it can be to plan for those trickier days, even if they seem a way off.

My parents very sensibly set up a Power of Attorney and this proved immeasurably helpful to me and my brother when they needed help in their later years.

The legal documents they signed appointed us to make decisions about finances and about

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