What is a conservator?

A conservator is a legal guardian appointed by a court to manage the property and financial affairs of someone who is unable to do so themselves. In the state of Virginia, conservators are generally appointed for an incapacitated adult or a minor who needs help managing their finances. The court requires evidence that someone needs a conservator before appointing one, such as proof of mental incapacitation or the inability to manage their finances due to physical, mental, or age-related issues. A conservator oversees the individual’s financial and legal matters, ensuring that bills are paid on time, that all assets are managed properly, and that their taxes are filed each year. The conservator must also develop a budget and stick to it, safeguard assets and investments, keep accurate records of all financial transactions, and report to the court on the progress of their conservatorship. The court also requires that conservators take all reasonable steps to protect the individual’s property and money and make sure it is used for their benefit. Considering that it is a position of trust, conservators may also be asked to provide proof of a clean criminal record, or to take a financial awareness test. It is important for the court and for the individual that the conservator is reliable, honest and capable of managing the individual’s financial affairs.

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What is a conservator?

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