Providing for a guardian and protector appointed by a judge to manage the financial affairs and/or daily life of another due to physical or mental limitations, or old age. The conservator may be only of the “estate” (financial affairs), but may be also of the “person,” wherein he/she takes charge of overseeing the daily activities, such as health care or living arrangements of the conservatee.
When is a Conservator Needed?
A Conservator is appointed when a person is deemed incapacitated or unable to handle their own financial affairs due to a variety of reasons including mental and physical disorders or being a minor. The Conservator can handle all aspects of an incapacitated person’s finances and decision making, from paying bills and investing assets properly to house sales and health insurance. It is the Conservator’s goal to maintain the least restrictive environment for the person, while maintaining their safety and avoiding exploitation from those directly around them. Conservators are subject to the court’s supervision and are required to submit annual reports of the incapacitated person’s assets, providing an additional layer of protection for the person’s finances.