A more thorough explanation:

A conservatee is a person who has been declared incompetent by a court and is therefore assigned a conservator to manage their financial and/or daily life affairs. This legal concept is similar to guardianship and is governed by state laws.

For example, a grandmother was appointed as the conservator of two children who were incapable of handling their own affairs. In some cases, businesses or organizations may also be placed into conservatorship, such as Fannie Mae and Freddie Mac during the 2008 subprime mortgage crisis.

Not all conservatorships are absolute, and the conservatee may retain certain rights to handle their own affairs, such as receiving their salary, drafting a will, having a lawyer, and receiving mail. However, the degree of control retained by the conservatee depends on the type of conservatorship.

For instance, in a limited conservatorship, the conservatee retains most of their decision-making power except for the affairs specifically listed by the court. In contrast, a general conservatorship strips the conservatee of most of their decision-making power.

If the conservatee's rights are violated, they or their family may petition to replace the conservator.