Whats the difference between a guardian/conservator and an attorney-in-fact?
Once appointed, the actions of a guardian or conservator are subject to court review and supervision. Generally, the guardian/conservator posts a bond and provides an accounting to the court regarding the management of assets. The accountings usually become public record. (The term guardian and conservator are interchangeable and the appropriate title depends upon whether one lives in Virginia, Maryland or the District of Columbia.) An attorney-in-fact is subject to the provisions of the power of attorney, i.e. the document which grants the attorney-in-fact legal authority. There is no court oversight unless someone asks the court to be involved and there is no statutory requirement for an accounting by the attorney-in-fact unless the power of attorney requires it.
