A conservatorship or other protective proceeding involves the management of financial affairs or property. Conservatorships may be established for incapacitated adults or for minors. In either case, a court must determine that there is money or property (the estate) requiring management or protection which cannot otherwise be provided.
Responsibilities Of A Conservator:
The primary responsibilities of the conservator are to manage and protect the property and to report periodically to the court about the assets, receipts and disbursements of the estate.
All conservatorships are under court supervision. It is the court’s responsibility to make certain that the conservatorship is functioning in the best interest of the protected person. It is the conservator’s responsibility to follow the court’s instructions and to always act in the best interest of the protected person.
Conservatorships are defined as protective proceedings because they involve protection of a person and/or property.