What is the difference between a trustee and a conservator?
Trustees and conservators both act as fiduciaries and must comply with high standards of conduct. A trustee is appointed by the individual in the trust document and the conservator is appointed by the court. An individual can remove his or her own trustee, while a conservator can only be removed by the court. A trustees duties are outlined by the trust document and a conservators duties and responsibilities are governed by statute and court orders. A trustee manages only those assets transferred to the trust. A conservator has the authority to marshal assets for the benefit of the ward.
