Elements and Performance Criteria

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.


preparing a Will

establishing a Trust

Powers of Attorney

health directives

funerals


personal details of client

assets and liabilities documentation

beneficiaries ' names, location and relationship to client

beneficiaries with special needs or particular problems

Trust deed

company records

taxation returns

articles of association


individuals

Trusts

superannuation funds

overseas beneficiaries


Capital Gains Tax (CGT)

treatment of superannuation benefits on the death of a member


accountants

lawyers

insurance agents


home loan insurance

disability insurance

income protection insurance

property insurance

public liability insurance


asset protection

making a future gift in light of circumstances yet to occur

to minimise income tax

to prevent squandering of property

to secure property to benefit persons in succession


corporate versus personal trustees

Commonwealth/State/Territory legislation and regulation relating to:
Wills
taxation
Intestacies
Attorneyships

charging of fees


payments from a superannuation fund

pension benefits


to mitigate risk

payment of Estate debts


not being able to directly gift assets of a business structure to a beneficiary

impact of a Will on the transfer of company assets to a beneficiary


distributing income

distributing capital

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment

To achieve competency in this unit, a person must be able to demonstrate:

an understanding of products that pertain to the trustees industry
ability to identify appropriate products to meet the needs of clients by identifying benefits, risks, taxation requirements and other issues
high level interpersonal skills to deal appropriately with sensitive issues

Evidence required for demonstration of consistent performance:
This unit of competency will need evidence to be collected across a range of events, dealing with different non-complex Estates, and over a period of time to ensure that situational variables are consistently achieved.

Delivery/assessment relationship to other units:
This unit may be assessed on its own or it may be assessed with other units that cover related skills and knowledge.
Evidence is most relevant when provided through an integrated activity which combines the elements of competency for the unit, or a cluster of units of competency.

Method of assessment:
For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.
Assessment of this unit will usually include observation of processes and procedures, oral and/or written questioning on underpinning knowledge and skills and other methods as required.

Context of assessment:
This unit may be assessed in the workplace or a simulated environment.

Resources required for assessment:
Assessment of this unit of competence requires access to appropriate technology and software.