What is a conservator?

A conservator is defined as a court-appointed individual responsible for managing the financial affairs and estate of a person who is deemed unable to do so themselves, often due to age, incapacity, or mental health issues. This role involves making decisions that are in the best interest of the protected person, ensuring their financial needs are met while adhering to legal and ethical standards. The conservator's responsibilities can include managing assets, paying bills, and making investment decisions to protect the estate's value.

In contrast, administering a will involves executing the wishes laid out in a deceased person's will, which is a different legal role focused on estate management after death rather than during the life of an individual who requires assistance. A financial advisor, while knowledgeable in managing finances, typically provides advice to clients without the legal authority to manage a protected person’s estate directly. Similarly, a lawyer representing an estate is focused on legal issues pertaining to the estate process, including probate, rather than directly managing the finances of an individual who is unable to do so. Thus, the definition of a conservator is specifically aligned with their role as the estate manager for a legally protected person.