What is the difference between a guardian and a conservator?

The primary difference between a guardian and conservator in Virginia is the scope of duties each entity is responsible for. A guardian is responsible for making decisions regarding the day-to-day needs of a person, such as medical care, living arrangements, and other personal matters. By contrast, a conservator is responsible for managing a person’s financial resources. This includes the duty to account for and conserve any assets under their care, and to invest and manage those funds according to the principal’s best interests. In both cases, the guardian or conservator must act in the best interests of the person they are representing. In the case of guardians, this means making decisions that are in the best interests of the person’s health and well-being. For a conservator, this means making decisions that are in the best interest of the principal’s financial security. In general, guardians and conservators must both report to the court that appointed them. Guardians must provide an annual report detailing their wards’ health and well-being, while conservators must provide an annual accounting of the funds they have managed. The biggest distinction between a guardian and a conservator in Virginia is the scope of their power and responsibilities. Guardians are responsible for making decisions regarding the care of their wards, while conservators have the power to manage the principal’s assets. In both cases, the appointed party must act in the best interests of their ward or principal at all times.

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What is the difference between a guardian and a conservator?

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