A conservator is a person appointed by a court to manage the financial and personal affairs of a minor or an incapacitated person. Conservatorship is a legal status in which a court appoints a person to manage the financial and personal affairs of a minor or incapacitated person. A conservator may be appointed to manage only the "estate" (financial affairs) or may also be appointed to manage the "person," which includes overseeing daily activities such as health care or living arrangements of the conservatee. A conservator of the person is more typically called a legal guardian. Conservatorship is established either by court order (with regard to individuals) or via a statutory or regulatory authority (with regard to organizations such as business entities) . Conservators are subject to scrutiny by the court and must document their management of the conservatees finances. Conservatorship planning involves a written document, like a will, in which a person names the person they want for their conservator and includes instructions on how they want their financial matters handled by their conservator. The powers of a conservator generally include the ability to arrange and manage the conservatees finances, collect all the conservated assets, pay bills, make investments, and perform other financial functions, as well as engage in estate planning, including the right to amend or revoke the protected person’s will. Conservatorships are subject to court supervision, which provides a powerful safeguard for an impaired adult’s property. However, the conservatorship can also be a cumbersome method of managing a person’s financial affairs, as the conservator must return to court for approval of certain transactions, such as the sale of real property, borrowing money, setting up a trust, etc. .