As with a Guardianship, a conservatorship is a legal appointment by the court, of an individual, to manage the financial affairs of an individual, known as a ward, who is incapable of managing their financial affairs due to incapacity, disability or who are minors. The appointment of a conservator can be a limited appointment. By seeking a limited appointment, this provides the ward with the ability to handle some financial matters which they are capable of handling.
If the ward has real estate, the conservator is also responsible for managing this property. There may be times that the property needs to be sold in order to have funds to support the ward. As such the conservator would need to file for a license to sell the real estate with the court.