What is a conservatorship?

A conservatorship is a court arrangement where someone is appointed to manage the finances and property of a person who can't handle those matters themselves. It's similar to guardianship, but conservators focus on money and assets while guardians focus on personal care. Courts usually step in when there's no valid power of attorney in place. Having a durable power of attorney ready ahead of time often avoids the need for a conservatorship entirely.