Conservatorship is a legal concept in the United States of America, where an entity or organization is subjected to the legal control of an external entity or organization, known as a conservator. Conservatorship is established either by court order (with regard to individuals) or via a statutory or regulatory authority (with regard to organizations). When referring to government control of private corporations such as Freddie Mac or Fannie Mae, conservatorship implies a more temporary control than does nationalization. In other legal terms, a conservatorship may refer to the legal responsibilities over a person who is mentally ill, including those who are psychotic, suicidal, incapacitated or is in some other way unable to make legal, medical or financial decisions on behalf of themselves.

Conservatorship is a legal term referring to a person who has been deemed gravely disabled by the court and unable to meet their basic needs of food, clothing, and shelter. There are two types of conservatorships: Lanterman Petris-Short (Lanterman Petris Short act of 1967, referred to as LPS) and Probate conservatorships. They are governed by the state's individual laws. In California, they are governed by the California Probate Code, and Welfare and Institutions Codes. Some states or jurisdictions refer to it as a guardianship, or even a trustee, instead of a conservator.