Caregivers are among America's unsung heroes. They're the millions of people assisting an ill or elderly spouse, parent, child or other loved one with everything from medications and bathing to money management and banking. Among the potential financial pitfalls: bad investment decisions that can reduce a relative's assets or standard of living. FDIC Consumer News offers these steps to consider.

Before an older relative becomes ill or disabled:

• Make sure the family knows where to find personal and financial documents in an emergency. These include bank and brokerage statements, wills, insurance policies and pension records.
• Get advice from a banker, attorney or other qualified professional about obtaining access to bank and brokerage accounts in case of an emergency. To write checks or withdraw funds, you or someone else your relative trusts should become a joint owner of a bank account or make arrangements to be authorized to conduct transactions as a legal representative with a power of attorney.
• Consider automatic payment of important, recurring bills. You can arrange for utility bills, along with health insurance, mortgage and other regular commitments, to be paid electronically out of your loved one's checking account.
• Think about the direct deposit of pay and benefit checks into bank and brokerage accounts.
• Consider a "durable power of attorney," a legal document giving one or more people the authority to handle finances or other personal matters if the individual becomes mentally or physically incompetent.
• Guard against scams. Fraud artists know that ill or elderly people tend to be lonely and willing to listen to and trust strangers who call on them — ideal candidates for telemarketing fraud, bogus home repairs, and get-rich-quick schemes. Be on the lookout for questionable solicitations or withdrawals.

• Contact bankers, lawyers, accountants, insurance agents or financial planners your family has dealt with in the past. Ask how they'd recommend you deal with matters and how they can assist.
• Be aware of your potential liability. A caregiver may become a joint owner of a bank account, serve as a legal representative (through a power of attorney) or become someone's trustee or guardian. Any time you agree to share responsibility with or for someone else you may be taking on unexpected risks and liabilities.
• Be smart about borrowing money. Your relative might need extra help to pay for medical or other expenses. In some cases, it might make sense to use a credit card or obtain a loan. First make sure the debt would be manageable, and research and discuss the pros and cons.