Conservatorship is a court-ordered relationship in which a judge appoints one person to manage the financial affairs of another. A protected person in a conservatorship is found to be financially incapable.A conservator oversees the protected person’s finances, income and assets. A conservator does not make health care related decisions, but may work with other decision-makers to secure housing or other medical services. It is possible for a protected person to have both a conservator and a guardian. It is also possible for an individual to serve as both the conservator and guardian.