Simple Answer:
Taking care of a person’s physical needs and/or their money.
More Information:
The court can appoint a conservator of the person, the estate, or both person and estate. The following is a brief summary of a conservator's duties.
Conservatorship of the Person
The conservator arranges for the client's care and protection, determines where he or she will live and makes appropriate arrangements for health care, housekeeping, transportation, and personal needs including recreation. The conservator must place the conservatee in the least restrictive, most appropriate placement. Other powers can be granted by the court as needed such as authority to make medical decisions or place the conservatee in a secured dementia facility.
Conservatorship of the Estate
The conservator manages the client's finances, locates and takes control of assets, collects income due, pays bills, invests the client's money, and protects the assets. The conservator may also sell real or personal property belonging to the conservatee when it is in the conservatee’s best interest. The conservator must provide for the maintenance and support of the conservatee using the assets of the estate. The conservator also applies for any public or private benefits for which the conservatee is eligible. The conservator is not required to use his or her own financial resources to care for the conservatee.
For more information about serving as conservator of the estate, you may want to review the guide created by the federal Consumer Financial Protection Bureau’s Office for Older Americans titled Managing Someone Else’s Money: Help for court-appointed guardians of property and conservators(PDF, 246KB) . Keep in mind this is a federal resource and does not include legal advice or information specific to California.