Conservator

By DouglasTurner.com • Mar 2nd, 2008 • Category: Estate Planning in Colorado: Glossary of Terms

Note: The following are general definitions. Any particular term may be defined differently by a particular statute, case law, or the definitions section of the document in question. Consult legal counsel before acting on any information contained in this website.

Conservator

(As of January 2008. Definitions and statutes may change after this date.)

The Conservator is a person designated by the probate court to oversee the assets of a protected person who, because of age, intellect or health, is incapable of managing his/her own affairs. The Conservator has a legal power as well as a legal responsibility to manage the estate of the protected individual. The Conservator may act as the Guardian; or the Guardian may be a separate person entirely, and the Conservator will just work with the Guardian. The Conservator has the power to make financial decisions in behalf of the individual; whereas the Guardian has the power to make medical decisions, or decisions which involve the personal care of the minor or incapacitated individual.

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DouglasTurner.com. This column is not legal advice nor does it create an attorney-client relationship with the reader. Due to limited space, complex legal concepts and rules may be stated in terms of general concepts. Based on 2007 Colorado and Federal law. Consult legal counsel before acting on any information contained in this column.
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