Unit of competency Outline
Date retreived
21/07/2026 11:54 PM AWST
21/07/2026 11:54 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Advise clients in estate planning
Advise clients in estate planning
Unit of competency
National Code
FNSPRT512
FNSPRT512
State Code
OEB90
OEB90
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
081105 - Investment And Securities
Original Release Date
07/12/2022
Nominal Hours
60
Description
This unit describes the skills and knowledge required to determine a client’s estate planning needs, provide advice and prepare the estate plan.The unit applies to senior level personal trust officers in the personal trustee sector who have highly developed communication skills and the authority to provide advice in estate planning.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Confirm client estate planning requirements
- 1.1 Discuss client’s personal, financial and family situation and determine estate planning needs
- 1.2 Identify aspects of client’s situation that require special attention in the estate plan
- 1.3 Identify legislative requirements and organisational policies and procedures that apply to drafting of client’s circumstances and potential drafting of estate plan
- 1.4 Discuss and confirm fees and cost structure for the estate plan with client, and confirm client understanding and agreement
- 1.5 Seek assistance, advice or other services from internal or external specialist advisers as required
2. Research and prepare draft estate plan and ancillary documents
- 2.1 Research relevant estate planning products, services and strategies according to client needs and expectations
- 2.2 Determine benefits, risks and taxation consequences of each product, service and strategy identified
- 2.3 Prepare draft estate plan and any ancillary documentation according to legislative requirements and organisational policies and procedures
3. Present draft estate plan to the client
- 3.1 Explain to client the draft estate plan, and its structure and objectives
- 3.2 Identify and explain to client the products, services and strategies contained in draft estate plan and any ancillary documentation
- 3.3 Explain and confirm client’s understanding of required steps to finalise and implement draft estate plan
4. Collect and incorporate client feedback
- 4.1 Seek and consider client feedback on draft estate plan and any ancillary documentation
- 4.2 Document any amendments to the draft estate plan arising from client’s feedback, as required
5. Finalise documents and execution
- 5.1 Finalise estate plan and any ancillary documentation
- 5.2 Discuss with client any changes in the final estate plan
- 5.3 Arrange for client to execute estate plan and any ancillary documentation
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS90 | FNSPRT502 | Advise clients in estate planning | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BHU7 | FNS42222 | Certificate IV in Personal Trust Administration | Qualification |
| BHX2 | FNS52022 | Diploma of Personal Trusts | Qualification |