Guardianship of property
A court appointment of someone to manage money and property for a person the court has found cannot manage it alone. In many states the role is called a conservatorship.
The CFPB says a guardian of property is someone the court names to manage money and property for another person whom the court has found cannot manage it alone. In many states the role is called a conservator or guardian of the estate, and the person under guardianship may be called an incapacitated person, protected person or ward. Sometimes the same person is also guardian of the person, who makes health care and other personal decisions.
A guardian has a double duty. One is to the person, whose best interests come first. The other is to the court, because the guardian is an agent of the court who must report regularly and answer its questions. The CFPB says a guardian must file an accounting each year, or whenever the court requires, of all the money received and spent. The role lasts until the court relieves the guardian, for example because someone else is appointed or the person has died.
Court supervision is the feature that sets it apart from a power of attorney, which a person sets up themselves. If you suspect a guardian or conservator of misusing a loved one’s money or property, the CFPB says to contact the court that appointed them.
Where it shows up
- Power of attorney and caregiver financial abuse · A signature that makes someone else the only person your bank will still listen to, and no stranger, no phone call, no urgency required.
- Professional guardianship and conservatorship fraud · The court order meant to protect someone who can no longer manage their own affairs is the same order that hands a stranger legal control of their money.
Sources
- Managing Someone Else's Money: Help for court-appointed guardians of property and conservators. US Consumer Financial Protection Bureau. Accessed 2026-10-10. Supports: The definition, the alternative names, the duty to the court, annual accounting and when the role ends.
- Reporting elder financial abuse guide. US Consumer Financial Protection Bureau. Accessed 2026-10-10. Supports: The advice to contact the appointing court if a guardian or conservator is suspected of misusing money or property.