A conservator is a person (or organization) appointed by a probate court and given power and responsibility for the estate (financial assets and property) of an adult (called a protected individual).
A conservator may be needed when the individual is unable to manage his or her property and financial affairs effectively because of certain reasons (such as mental illness, mental deficiency, physical illness/disability, etc.) and:
He or she has property that will be wasted or used up unless proper management is provided
Funds are needed for the support, care, and welfare of the adult and any of his or her dependents.