- Feb 28, 2009
Question: What Is the Difference Between Power of Attorney and Conservatorship
A power of attorney for financial matters and a conservatorship can both authorize a person to have control over another person’s financial affairs.
There are a few key differences. For one, a power of attorney is limited to financial assets, whereas a conservatorship, also called an adult guardianship, can have two components: a conservatorship of the estate (providing management of money and other property) and a conservatorship of the person (health care and living decisions).
Frequently, a conservatorship of the person and a conservatorship of the estate are in place at the same time, but not always. Therefore, there are some areas of decision-making that are not covered simply by a financial power of attorney, and where a conservatorship of the person may be necessary. If ... dementia renders him [or her] unable to make decisions about his care and living arrangements, you may need a conservatorship.
Another important difference between a financial power of attorney and a conservatorship is that a conservatorship requires court appointment and oversight, whereas a financial power of attorney does not. ....