Guardianship

Conservator
A conservator is a court-appointed custodian of assets belonging to someone determined by the courts to be unable to manage his or her own property.
Incapacity
Incapacity refers to the lack of legal, physical, or intellectual power or ability to perform a task or make decisions. It is relevant in various legal contexts, such as contract law, where a person must have the capacity to enter into a binding agreement.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.