How are conservatorships created and why are they beneficial? A court has the authority to appoint an individual or an organization as a "conservator" to manage a person, a person's estate or sometimes both. This appointment occurs when the person is unable to care for themself or manage their own financial affairs. The cared for person is known as the "conservatee." Generally, the conservatee is seriously incapacitated. He or she may be in a coma or suffering from the effects of a tragic accident or more typically, suffering with a serious illness such as Alzheimer's or simply age-related