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PETITION FOR TERMINATION OF. (check all that apply). Complete the petition and other forms: Complete a "Petition for Termination of.Each parent of the minor agrees after being informed about what a guardianship means; or. All parental rights have been terminated; or. Terminating the Conservatorship and discharging the Conservator. 1. Directing the release of funds to the former ward as requested in the Petition;. 2. COMPLETE THE PETITION: Complete a PETITION FOR TERMINATION OF GUARDIANSHIP. The court may appoint a limited guardian for a definite or indefinite period. After adjudication, the subject of the guardianship is termed a "ward. Probate Court may appoint a conservator to protect money and property.