The two serve similar purposes, but there are key differences. First of all, a legal guardianship in Virginia is when a Virginia court determines a person cannot manage their own affairs. The court will appoint a guardian and/or a conservator for that person. The person for whom the courts appoint the guardian or conservator is the “incapacitated person”. A guardian is a person the courts will appoint to handle the general affairs of the incapacitated person. A conservator is a person the courts appoint to handle the financial affairs of the incapacitated person. The guardian and the conservator can be the same person, but they do not have to be.