What Is a Conservatorship?

Conservatorships protect people who cannot manage their own affairs, but they also restrict personal freedom significantly, so courts treat them seriously.

Conservatorship vs. guardianship

Terminology varies by state (Cornell LII):

• In many states, a conservator manages money and property, while a guardian makes personal and medical decisions.
• In some states, such as California, "conservatorship" covers both the person and the estate, and "guardianship" is used for minors.

See how to get guardianship.

When it is used

When an adult cannot manage finances because of dementia, serious mental illness, a developmental disability or brain injury, and there is no valid power of attorney or other arrangement.

How it is set up

1. Petition filed in probate court by a family member, friend, agency or the person themselves.
2. Notice to the proposed conservatee and close relatives.
3. Medical evidence of incapacity.
4. Investigation by a court investigator in many states, and appointed counsel for the proposed conservatee.
5. Hearing, where the person can object.
6. Order and bond: the conservator may need to post a bond and receives letters of conservatorship.

Conservator duties

• Act in the conservatee's best interest
• Keep the conservatee's money separate from their own
• Prepare an inventory and file periodic accountings with the court
• Get court approval for major transactions in many states, such as selling a home
• Respect the conservatee's preferences where possible

The CFPB's free guides explain duties for court-appointed property guardians and conservators.

Costs

Court fees, attorney fees, investigator fees, bond premiums and possibly professional conservator fees, usually paid from the conservatee's estate.

Alternatives

• A durable power of attorney, signed while the person still has capacity
• A revocable trust with a successor trustee
• Representative payee for Social Security
• Supported decision-making

Ending a conservatorship

The conservatee or others can petition to end or modify it if the person regains capacity or a less restrictive alternative becomes available. It also ends at death.

Abuse concerns

If you suspect a conservator is misusing funds, report it to the court that supervises the case and consider adult protective services. See signs of elder abuse.

An estate planning lawyer or elder law attorney can advise on whether conservatorship is necessary.

Sources

1. Cornell Law School LII: Conservatorship
2. Cornell Law School LII: Guardianship
3. Consumer Financial Protection Bureau: Managing someone else's money