**Conservator** (noun) — A person appointed by a court to manage the financial affairs and/or property of someone who has been determined unable to manage their own affairs due to mental or physical limitations.
A conservator is appointed by a court to handle someone else's money and property when that person can't manage their own affairs. The person needing help is called the conservatee or protected person.
This happens when someone lacks capacity to handle finances due to dementia, severe mental illness, disability, or other impairment. Family members petition the court, evidence is presented about the person's inability to manage affairs, and if convinced, the court appoints a conservator.
The conservator has significant power but also significant responsibility. They must manage the conservatee's money prudently, keep detailed records, and file regular reports with the court. They're not free to use the money for themselves—it must be used solely for the conservatee's benefit.
⏱ When you'll encounter this term
Conservatorships are used when someone hasn't done incapacity planning (like creating a power of attorney) and becomes unable to manage their affairs. It's a formal court process that restricts the protected person's rights, so courts take it seriously.
The conservator might be a family member, professional conservator, or organization. Courts prefer family when possible, but if no appropriate family member is available or family members are fighting, a professional is appointed. The conservatee (if able) can sometimes express preferences about who serves.
You'll encounter conservatorships in estate planning when discussing what happens if someone becomes incapacitated without having planned ahead. They're also relevant when settling estates where the deceased had been under conservatorship—the conservator must provide final accounting and turn over remaining assets to the estate.
**Related terms:** [Guardianship](/dictionary/guardianship), [Power of Attorney](/dictionary/power-of-attorney), [Conservatorship](/dictionary/conservatorship)
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"When Grandma developed severe dementia and had no power of attorney, we had to apply to court to appoint my uncle as conservator to manage her finances and pay her care home fees."