You can appoint a conservator for your minor children after your death. A conservator is a person who manages your children’s inheritance and makes financial decisions in their best interests. Unlike a guardian, if you are divorced, your former spouse has no priority to act as conservator of your children and manage their funds if you select someone else. Instead, the person or persons you name in your will takes priority. If you want to make sure that the person you want to act as conservator for your minor children after your death is appointed, you should execute a will and name both a guardian and conservator.