The Trustee identifies and protects the Trust’s assets. They incorporate responsible and sound investing principles to preserve the Trust’s assets—professionally managing the assets long term or distributing them right away pursuant to the terms of the Trust. Full transparent accounting to the Beneficiaries of the Trust is an ongoing requirement.
A Conservator of the Estate is a person who is appointed by the probate Court and given the legal right to make day-to-day financial decisions for a living person who is unable to care for themselves. The Court will oversee any decisions made, and in addition, the Conservator will need to secure authorization for some transactions, such as selling property.