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Difference Between a Conservator and Fiduciary

A court-appointed conservator of an estate is a person named to handle the financial affairs for an incapacitated adult or minor child. This includes activities such as: 

  • Paying monthly bills
  • Managing investments 
  • Purchasing and selling large ticket items like a car, home or rental property
  • Filing tax returns and other financial forms

A conservator is not responsible for caring for the individual on a personal level by handling guardianship duties such as making healthcare, educational or social engagement decisions. 

In contrast a fiduciary is a person or group of individuals who can be court appointed or named in advance in a will, trust or power of attorney) to handle all of these duties – and more – under one umbrella. A fiduciary may be called upon to provide: 

  • Probate administration
  • Financial affair management
  • Personal care coordination
  • Help with daily activities
  • Health and well-being support
  • Power of attorney for financial and advanced health care directives
  • Estate settlement
  • Guardianship for minor children 
  • And more

For obvious reasons, the person or persons named as fiduciaries must be honorable and highly trustworthy. The Colorado estate planning lawyers at The Brown Law Firm, LLC can draft documents to name your fiduciaries or advise fiduciaries who are currently serving. If you are interested in having estate planning documents prepared to name a fiduciary or are currently serving as a fiduciary and need guidance, please contact us today to request an appointment: (303) 339-3750 or visit our website