If we compare between Conservatorships and Guardianships, then a court will appoint a substitute decision-maker for an individual who does not have the capacity to manage his or her own affairs. While guardianships are designed to assist with personal and health-related needs, conservatorships are designed to assist with financial needs.

What is the Difference Between Power of Attorney and Conservatorship?
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).

Is Conservatorship the Same as Guardianship?
A guardian (or conservator) of the person is responsible for decisions about care provisions and living arrangements of the ward. A guardianship (or conservatorship) of the estate is charged with the ward’s property and financial affairs. In some states, the term guardian is used for both scenarios.