What is a conservatorship, and where can I go for assistance?

A conservatorship is a legal arrangement in which a court appoints a person or organization to make financial decisions on behalf of another individual who is unable to manage their own affairs. The conservator's authority is determined by the court and may be limited to specific responsibilities.

Because conservatorships are established and supervised by the court, individuals with questions about obtaining or serving under a conservatorship should consult an attorney or other qualified legal professional. Veridian Credit Union requires court documentation before allowing a conservator to act on an account.

Generally, a conservator manages financial matters, while a guardian is responsible for personal care and well-being, although terminology may vary by state. In some cases, the same person may serve as both conservator and guardian.