A kind of guardian, usually referring to a person appointed by a court to act to manage the affairs of a severely handicapped or incapacitated adult, especially one with considerable assets; in some areas, a public or private agency may be appointed to act as conservator. To avoid court involvement in appointing a conservator, parents who wish to secure the future of a handicapped child may instead prepare a durable power of attorney giving a chosen person the power to act if the parents are incapacitated.
A person who has the legal authority and duty to protect the assets of another, “protected person” (a minor or incompetent). A conservator is appointed by a court, in the same way that a guardian is appointed, but he can only make decisions about property, not about medical care or other decisions personal to the protected person. A guardian may have authority over personal matters only, over property matters only, or over both, depending on what authority the court has granted. The guardianship papers describe the authority given.
A person appointed by the courts to manage the affairs of another person (called the conservatee), especially if there is strong evidence that the conservatee is incapable of managing his or her own affairs.