Conservative old individual received by king and queen; he's often in court (7)
I believe the answer is:
coroner
'he's often in court' is the definition.
(coroners attend inquests in court)
'conservative old individual received by king and queen' is the wordplay.
'conservative' becomes 'c' (abbreviation commonly used in UK politics).
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'individual received by king' becomes 'rone' (I am not sure about this - if you are sure you should believe this answer much more).
'and' means one lot of letters go next to another.
'queen' becomes 'r' (r is abbreviation regina. e.g. in ER ).
'c'+'o'+'rone'+'r'='CORONER'
(Other definitions for coroner that I've seen before include "Legal figure" , "One presides at inquests" , "Official who investigates sudden deaths" , "Investigator" , "Official holding inquests" .)