conservator
Reviewed by Owen Hathaway, AttorneyUpdated June 4, 2026A person a court appoints to manage the finances and property of someone who can't manage their own, distinct from a guardian, who handles personal care.
A conservator is appointed by a court to manage the financial affairs, income, and property of a protected person who is unable to do so. The conservator must account to the court and act as a fiduciary.
Conservatorship addresses money and property; guardianship addresses personal and health decisions. A single person may serve in both roles. A durable financial power of attorney, made in advance, often avoids the need for a conservatorship altogether.
Colorado governs conservatorships under the Colorado Probate Code (C.R.S. Title 15, Article 14, Part 4); Wyoming under Wyo. Stat. Title 3. Both require court appointment, bonding in many cases, and ongoing accountings.
Related terms
- durable financial power of attorneyA document that lets a person name an agent to handle money and property matters, and that stays in effect if the person becomes incapacitated.
- guardianA person a court appoints (or a parent nominates) to make personal and care decisions for someone who can't, such as a minor child or an incapacitated adult.