Legal right given to a person to manage the property and financial affairs of a person deemed incapable of doing that for himself or herself. (See also Guardianship.)
Source: U.S. Courts
A Conservator is a person, or sometimes a financial institution, appointed by the judge to manage money and property for someone else. The person needing the Conservatorship is called a "protected person."
The judge may appoint a Conservator when the judge determines two things: First, that the person to be protected is not capable of managing his or her money and property effectively. Second, that the person to be protected has money or property that may be squandered. A Conservator will not be appointed until after a court hearing.
The judge will order the Conservator to obtain a bond in an amount the judge determines is necessary to protect the person’ assets. Bonds insure protection against theft or fraud and are obtained from insurance companies. The Court might order that part of the ward’ assets are restricted, which will lower the amount of the bond.
Source: Superior Court of Arizona, Maricopa County
A court proceeding where a judge appoints a caretaker for an adult that is unable to care for him or herself.
Source: California Courts.