A petition to create a conservatorship is a proceeding in which the conservator  seeks authority to control the business and financial matters of an incapacitated individual.  A conservator is usually bonded and must annually provide to the court an accounting of his or her financial actions with the assets of the protected person.   

Occasionally an objection is voiced to a petition for a conservatorship and a hearing is necessary.  

State law provides some restrictions on what a conservator can do without prior court approval.  These restrictions include sales or dispositions of the personal residence of the protected person as well as large gifts from his or her funds.