As conservator, you have the power and the duty to protect and manage the conservatee's property. This would include gathering the assets of the estate, investing them, and using them for the conservatee's benefit.

The judge who appointed you as conservator may limit your powers if the conservatee is still able to take care of some of his or her own finances. For example, a conservatee may not be able to make decisions regarding investments but s/he still may be able to pay household expenses. In such a case the judge could give you the power to make investments but allow the conservatee to manage his or her own household budget.

A conservator is said to have a fiduciary relationship to the conservatee just as a trustee has to the beneficiaries of a trust. Having a fiduciary relationship means that you have a very special duty to the conservatee to act with more than the usual amount of trustworthiness and care. You must take steps to:

• make sure the conservatee's property is safe
• budget for the conservatee to make sure his or her needs are met
• keep careful records of what you have done
• report to the court and others
• to make sure the conservatee's finances are kept separate from your own finances.

Some of these requirements may seem to be a lot of unnecessary trouble especially if the conservatee is a close relative or friend whom you have been helping for a long time. However, when you remember the very high degree of responsibility and trust that is being placed in you as the conservator, the reason for this extra care is clear.

You may have helped the conservatee in the past by using a power of attorney from the conservatee. Although some of your duties as conservator will be similar to what you did under the power of attorney, there are important differences. The power of attorney gave you the power to do things, such as pay bills, for the person (called the principal) who gave you the power of attorney. The power of attorney did not, however, take away the power of the principal to do such things for himself or herself or to tell you how s/he wanted such things done.

Unlike a power of attorney a conservatorship takes away a conservatee's power over his or her finances and gives it to the conservator. As a result, you are the person responsible for making sure financial decisions are proper. Although you should consult with the conservatee regarding financial decisions when possible, you must use your own judgment in deciding what to do.

Your powers as conservator end when the conservatee dies except for actions that are necessary to wind up the conservatorship. The personal representative of the deceased conservatee's estate will then take over the management of the estate.

In performing your duties as conservator, it is important to always keep in mind that the conservatee is a human being with dignity and feelings. Even if the judge has given you total control over the conservatee's finances, it is important to consult with the conservatee when possible, to keep him or her informed of what you are doing and, where his or her preferences are reasonable and proper, to do what s/he would prefer. You do have the ultimate responsibility for making sure that decisions are proper even if the conservatee disagrees with a decision, but this does not prevent you from encouraging the conservatee to continue to be as involved as possible.