An individual or bank or trust company appointed by the probate court to act for a minor or incapacitated person (the “ward”). To become a conservator, either the party intending to be the conservator or another family member, close friend, or local official petitions the court for the appointment of a conservator. Once appointed, a conservator is empowered to make financial decisions for the ward. Typically, a parent’s last will and testament will nominate someone as guardian and conservator of their minor child.

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Reference: Conservator