Conservatorship of the Estate


A conservator of the estate is responsible for protecting and managing the conservatee’s finances and property. Duties may include locating and safeguarding assets, paying expenses, managing income, addressing debts, maintaining appropriate insurance, keeping detailed financial records, and filing inventories and periodic accountings with the court. A conservator of the estate acts as a fiduciary and must manage all assets solely for the conservatee’s benefit. In some cases, the same individual serves as conservator of both the person and the estate; in others, the court appoints different people to fulfill these separate roles.

Frequently Asked Questions

A conservator of the estate protects and manages the conservatee’s money and property. Responsibilities may include locating and safeguarding assets, collecting income, paying expenses, managing investments, maintaining insurance, addressing debts, keeping detailed financial records, and filing inventories and periodic accountings with the court.

Yes. In some cases, the same person is appointed as conservator of both the person and the estate. In other cases, the court appoints different people because the roles require different skills or because separate appointments better protect the conservatee.

The court will determine whether a bond is required and, if so, the amount. A bond protects the conservatee’s estate against certain losses resulting from the conservator’s misconduct or improper management. The amount may depend upon the value of the assets, anticipated income, and whether funds are held in blocked accounts.