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The pros are that a conservatorship provides the greatest flexibility in being able to manage the changing needs of the subject person, arranging long term care, housing and being able to contract with providers as needed. As for the cons, conservatorships are time-consuming and expensive.
In California, a conservatorship is the legal term for a court proceeding in which a probate judge appoints a responsible adult or organization, known as a conservator, to manage the personal life and/or finances of an incapacitated adult, known as a conservatee.
A co-conservator is a person appointed by the court to co-manage, together with another person who is usually a family member, the property of an incapacitated adult.
Legal Basis: ing to the Probate Code, a conservator may be appointed for a person who is unable to provide properly for his or her personal needs for physical health, food, clothing or shelter or for persons substantially unable to manage their financial resources or resist fraud or undue influence.
Whereas conservators are monitored by the court and must often seek approval for major decisions, trustees often hold broader powers to administer the trusts provisions as outlined in the trust document.
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The judge may appoint more than one limited conservator (co-conservators). In some cases a private professional conservator is appointed. The county public guardian may be appointed if no one else is available.
A conservatorship is a court order that appoints someone to oversee the financial affairs of a minor or a person who is incapacitated. A guardianship typically involves the appointment of someone to manage the medical and physical care of a person with limited capacity, or a minor. One person can serve in both roles.

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