1. If the court, after hearing, finds that a person is partially incapacitated and that the respondent’s identified needs cannot be met by a less restrictive alternative, the court shall appoint a limited guardian of the person of the ward. The order of appointment shall specify the powers and duties of the limited guardian so as to permit the partially incapacitated ward to provide for self-care commensurate with the ward’s ability to do so and shall also specify the legal disabilities to which the ward is subject. In establishing a limited guardianship, the court shall impose only such legal disabilities and restraints on personal liberty as are necessary to promote and protect the well-being of the individual and shall design the guardianship so as to encourage the development of maximum self-reliance and independence in the individual.

2. If the court, after hearing, finds that a person is partially disabled and that the respondent’s identified needs cannot be met by a less restrictive alternative, the court shall appoint a limited conservator of the estate. The order of appointment shall specify the powers and duties of the limited conservator so as to permit the partially disabled person to manage the person’s financial resources commensurate with the person’s ability to do so.