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Role of a Fiduciary The Role of an Executor The Role of a Charitable Remainder Trust Trustee The Role of a Conservator The Role of a Trustee Irrevocable Life Insurance Trust |
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Conservator is a person or organization chosen to protect and manage
the personal care or finances (or both) of someone who has been found
by a judge to be unable to do so. If there is no suitable relative
or friend who is willing to serve, the conservator may be a private
professional conservator.
A conservator of a person takes care of the person’s daily needs and a conservator of the estate helps manage the person’s finances. Conservator of a person includes deciding where the person will live, and providing care and protection for health, personal needs, meals, transportation, recreation, clothing and housekeeping. Conservator of an estate manages the person’s finances, locating and taking control of the person’s assets, account for income, spending monies with the person’s budget, paying bills, investing money and conserving the assets. The conservator reports to the court regarding all financial decisions.
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