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Guardianship and Conservatorship… are explored before guardianship or conservatorship is ordered. Some alternatives include Power of Attorney - a grant of shared authority by one person (the principal) to another (the agent or attorney-in-fact) to make decisions … provide annual accountings to the court and the court will remain involved throughout the conservatorship. Conservators are granted the authority to retain, invest and disburse funds for the ward, but this authority is also limited by state statue. …