Conservator
A person appointed by the court to manage the finances and property of someone who cannot manage them on their own.
A conservator is a person appointed by the court to manage the financial affairs and property of someone who is unable to do so. This might include paying bills, managing bank accounts, filing taxes, and making decisions about property. A conservator handles money and property, while a guardian handles personal and health care decisions — though sometimes the same person serves in both roles.
In Minnesota, the court appoints a conservator only after finding that the person is unable to manage their financial affairs and that a conservatorship is necessary. Like guardianship, the court prefers the least restrictive option. A conservator must keep careful records and file regular reports with the court showing how the money is being managed.
Why it matters: A conservatorship protects vulnerable people from financial exploitation and ensures their bills get paid and their assets are preserved. However, it also limits a person’s control over their own finances, so courts treat it as a serious step.
Example: After a stroke leaves a person unable to manage their finances, their spouse petitions the court for conservatorship. The court appoints the spouse as conservator to handle bank accounts, pay household bills, and manage investments on the incapacitated person’s behalf.
Cases involving adults with disabilities, elderly individuals with cognitive decline, probate court