Pops has come to me for advice on his finances over the years. Not that I am a financial expert, he usually has just wanted to run his own thinking by someone else he trusts. So eight years ago, when he was 82, Pops came to me to talk about what to do with his life savings. First, we got some professional financial advice and then put our heads together and agreed that it made sense to put his savings into an annuity to lock in the equity.

Every quarter since then, Pops has shown me the annuity statements he gets in the mail. But other than that, the investment was pretty much out of our heads (I know it was out of mine anyway). But then as Pops' 90 birthday approached, he got a letter telling him that the annuity was about to mature. The letter said he had the options of cashing out, setting a new maturity date, or leaving the annuity as it was with no fixed maturity.

Pops came to me and said he was thinking of cashing out and asked me what I thought. I said I would look into it, and I called the financial advisor who sold us the annuity. He outlined the options in more detail, and I asked some questions. In the end we agreed that Pops should cash out. So I went back to Pops with the information, and he sent back the mailer with his preference. Yesterday, he received the check.

It got me thinking about other caregivers â€“ especially caregivers of elderly parents with Alzheimer's disease or other form of dementia - who have to help them deal with their finances. Pops' finances are pretty simple, but depending on the complexity of the finances and the degree of incapacitation of the parent, this can be a big responsibility with a lot at stake.

It can be very hands-on too. I know when Pops first had his stroke in 2006, he could not do math or write a check. For a while, I went through his bills in detail to see what there was. I would write his checks and balance his checkbook and he would just sign the checks. Then â€“ as the rehab people had suggested â€“ Pops started doing these financial chores again himself while I simply checked his work. This helped him restore functioning and now he is back to managing his checkbook and daily expenses himself. I am only his chauffer to the bank.

Experts say the time for a caregiver (or potential caregiver) to get a handle on a parent's finances is before the parent becomes ill or disabled. For guidance, I recommend the Federal Deposit Insurance Corporation (FDIC) guidelines for caregivers. I've summarized a few of the basic guidelines below, but you may want to access the whole document: