The professional guardian does not take the place of a family member, although the guardian may form an emotional bond with the person under guardianship. The professional guardian will coordinate and monitor professional services needed by the person, such as selecting a caretaker, in-home care, and other services.
Funds that belong to the person under guardianship remain the property of that person, and do not become property of the guardian. All funds are accounted for and kept separate from the guardian’s personal funds. The estate guardian acts on behalf of the incapacitated person only to the extent of the person’s assets. For each person that a professional guardian serves, the guardian stands ready to give an accurate accounting of those funds to the court. The professional guardian is an advocate and acts on behalf of the incapacitated person only to the extent of the court order.
The professional conservator is a person appointed by the court to manage someone’s (Protected Person) finances who is incapable of doing so on their own, due to illness, injury or disability. The conservator has a fiduciary responsibility to the Protected Person they serve, adhering to their wishes and advocating for the benefit of the estate.
Includes Personal Representative, Guardian, Conservator, Trustee, Agent or Attorney (In Fact)
Colorado Secretary of State
All Colorado Probate Instructions and Forms