Conservator: A legal term that is used to describe an individual who is appointed by the court to manage the financial assets and affairs of and individuals that is under some kind of a legal disability, which can include tender or advanced age, or the inability to comprehend or effectively manage financial matters. Generally, as a condition of continued service, the faithful and competent performance of a conservator's duties must be bonded. If fees are charged for the services of a conservator, they must be reviewed and approved by the court, and part of required financial accountings. In many situations, a court will appoint a conservator to manage the financial affairs of an individual and a guardian to manage the physical custody and care of the protected individual. In some cases, these separate functions can be handled by the same individual. See: Guardian