Important Distinctions Between A Conservatorship And Guardianship

A conservatorship and guardianship both involve decision-making power, but one typically deals with finances while the other deals with health-related affairs.  Conservatorships and guardianships come into play when a person loses the capacity necessary to be able to make decisions for themselves.  People can designate who will be their guardian and conservator in a living will.  If a person who loses capacity does not have a living will and their intentions cannot be ascertained a court will typically appoint someone to serve in the roles of conservator or guardian if needed.  The same person can serve in both roles or the court might choose different people to fill the role if they determine it is in the best interest of the individual in need.  The person must be competent in their ability to fulfill the fiduciary responsibilities that are required. 

See What Is the Difference Between Conservatorship and Guardianship?, The Motley Fool, March 18, 2016.