Why the onset of winter is the best time to protect your assets

No matter how much you might feel like you are on top of your life admin, there's always something that gets put off again and again.

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And as we get closer to Christmas, it’s very easy to fall into the trap of thinking, ‘I'll get round to it in the New Year’.

But when it comes to something like arranging a power of attorney for yourself or a loved one, there are clear dangers involved in procrastinating any further.

Power of attorney is a legal arrangement that allows you to nominate a person or persons to make decisions on your behalf in the event that you are unable to do so, for example due to serious injury, ill health, or mental incapacitation.

Without it, your loved ones could find themselves in real difficulty, powerless to intervene in the most crucial decisions.

For many people, power of attorney is something you look at when you are old and frail, but that would be a grave error.

Leading financial experts who are prominent in the media even go so far as to say that it’s an essential step for everyone to talk - no matter what stage of life they are in, or indeed how healthy they are.