What is a Conservator?
Unlike a Guardian who is authorized to make decisions regarding the health and living arrangements of the ward, a Conservator is authorized to manage the ward’s financial affairs. A conservator has authority to manage bank accounts, stocks and bonds, real estate, insurance policies, and other personal property. A conservator is also responsible for filing the ward’s tax returns.
In some cases, the court will authorize a single person to act as both the Guardian and Conservator for a ward. In other cases, the court will appoint one person to serve as Guardian and another person to serve as Conservator. It is also possible for the court to appoint either a Conservator and not a Guardian or a Guardian and not a Conservator.
Regardless of the situation, both Guardians and Conservators have strict responsibilities to act in the best interest of the ward. If you have any questions and would like to speak with an attorney regarding the appointment or service of a Guardian and/or Conservator, contact us.