Conservatorship vs guardianship: What’s the difference?

If you have young children, you likely want to nominate a caretaker for them when you make your will. Conservators and guardians are two types of caretakers you can nominate to look after your children if you pass away. So what’s the difference between them, and which one is the best fit for your situation?

What is a legal guardianship?

A legal guardian is someone who’s responsible for the health, safety, and wellbeing of another person. Often, parents will name a guardian for their young children in their will. If both parents pass away, a guardian handles the physical and emotional needs of the children until they become legal adults (usually at age 18). This includes providing food, shelter, education, healthcare, and more. Legal guardians are also sometimes called “personal guardians” or “custodial guardians.”

Most of the time, your child’s personal guardian would also oversee and manage their inheritance and other property. But if you want to nominate someone else to manage your child’s money and assets, you can. This person would be their conservator.

What is a conservatorship?

In a conservatorship, one person — called a conservator — is given legal permission to manage the financial affairs of their ward. Wards are usually minor children, but they can also be incapacitated adults or people with disabilities. One of the most current and well-known examples of a conservatorship is pop star Britney Spears’ conservatorship under her father, Jamie Spears, since 2008.

Often, conservators are tasked with managing their ward’s financial assets. This includes paying bills on their ward’s behalf, managing real estate property, and more. Minors generally can’t own property until they become an adult. A conservator maintains their ward’s finances and real estate until they come of age and can inherit it.

Conservators are also sometimes called “property guardians” or “financial guardians.”

Conservators vs. guardians: What’s the difference?

It depends. There’s not a universally accepted definition for conservator or guardian in the United States. The roles of each are likely to differ depending on where you live and how your state defines the terms.

In some states, the terms are used interchangeably. In others, a “conservator” oversees the affairs of an incapacitated adult ward, and a “guardian” oversees the affairs of a minor ward. And in still others, a guardian manages the overall day-to-day decisions of their ward, while a conservator only manages their ward’s financial assets.

How to nominate a conservator or guardian in your will

If you have young children, one of the most important things you can do in your will is to name a caretaker for them. If you don’t, and you and your children’s other parent pass away while they’re minors, the court will have to choose who cares for your children without your valuable input.

Here are the steps to name a conservator or guardian for your minor children:

1. Choose someone you trust.

When choosing a caretaker, consider someone who’s organized, shares your values, and will always act in your child’s best interest. This could be a family member, trusted friend, or a legal professional, like an attorney.

2. Coordinate with your child’s other parent.

In most cases, a minor child’s surviving parent will get sole legal custody if the other parent passes away. But it’s a good idea to prepare for a situation in which both you and your child’s other parent pass away at the same time. To do this, you should both agree upon and list the same guardians in your wills. This helps avoid the stress and confusion that might result if you name different guardians.

3. Speak with your potential guardian or conservator.

Nominated guardians and conservators don’t have to serve just because you nominated them. That’s why it’s important to talk to your nominees beforehand, to make sure they’re willing and able to serve. It also gives you a chance to explain your wishes for the role they’d play in your child’s life. Each of these roles carries a lot of moral and legal responsibility.

4. Write your nominees’ names in your will.

To nominate a guardian or conservator for your minor child, you can write their name and the nominated role in your last will and testament. Online will-making tools like FreeWill can walk you through the process carefully and thoughtfully. After answering some questions, you’ll receive printable forms that state your wishes in clear legal terms.

If your family situation is complex or you think the guardianship could be contested, it’s a good idea to talk to an estate attorney about your situation. If you want to name a conservator for an incapacitated adult, that may also be reason to speak to a qualified attorney.