Conservatorship is a legal status in which a court appoints someone to handle the financial affairs of an incapable or incompetent person or kid. A guardian is someone who is in charge of arranging and monitoring the individual’s physical care as well as managing their living circumstances. Both positions are referred to as conservatorship in certain places, such as California, with the guardian function being referred to as “conservator of the person” and the financial role is referred to as “conservator of the estate.”