Duties and Responsibilities of a Conservator

Once appointed, a conservator has significant responsibilities, including:

• Managing Assets: Setting up a conservatorship bank account, paying bills, and managing investments.
• Filing Court Reports: Filing an initial inventory of the conservatee's property and a plan for managing assets within two months of appointment. After that, annual returns must be filed, updating the inventory and asset management plan.
• Acting in the Conservatee's Best Interest: Always prioritizing the conservatee's needs and well-being, avoiding conflicts of interest, and maintaining accurate financial records.
• Seeking Court Approval for Major Decisions: Obtaining court orders for actions not specifically authorized by the initial conservatorship order, such as selling property or encroaching on the principal of the conservatee's estate.