A Conservator is a person appointed by the Court to manage the assets and financial matters of a minor or an incapacitated person (referred to as a Ward). An incapacitated person is someone who is physically and/or mentally unable to care for himself/herself.
Before the Court appoints a conservator, a physician must examine the ward and render a report of his findings. In addition, the Court will appoint a Court Representative and a Guardian ad litem. In the case of a minor the Court will only appoint a Guardian ad litem. If the petition is granted, the Court will require that the conservator file a bond in an amount determined by the court based on the value of the assets of the ward.The Conservator must keep a separate account of the ward’s monies and must keep a detailed record of all transactions, both incoming and outgoing. The Conservator must file an inventory with the Court within 90 days of appointment, and must file an accounting one year after issuance of Letters and then every three years thereafter or as otherwise ordered by the court.