What is a conservator?

A conservator is a person appointed by the court to protect the financial interests of an incapacitated person in South Carolina. This could include a minor for whom a guardian is not needed or an adult who is unable to manage their own affairs. The court may appoint a conservator when it finds that the incapacitated person is not making sound decisions in the management of their financial matters. A conservator’s duties include filing an inventory of the incapacitated person’s assets and liabilities, keeping these assets secure and separate from their own, making sure taxes are current and kept up to date, and accounting for all expenses. They may also have the authority to receive and manage income, pay bills, and make investments. The conservator is also bound to report to the court annually, including an accounting of all transactions made with the incapacitated person’s funds. The conservator is appointed by the court and is held to a fiduciary duty. This means they must act in the best interests of the conservatee and not use the funds for their own benefit. A conservator may be an individual or a corporation, such as a bank or trust company, depending on the court’s decision. Ultimately, the goal of the conservator is to ensure the financial stability of the conservatee.

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What is a conservator?

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