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 on trust structures
Advise clients on trust structures
Unit of competency
National Code
FNSPRT511
FNSPRT511
State Code
OEB91
OEB91
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 client needs on trust structures and prepare documentation.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 on trust structures.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. Determine client needs and provide recommendations
- 1.1 Discuss client’s personal, financial and family circumstances and identify areas of risk to preservation of client’s assets
- 1.2 Identify legislative requirements and organisational policies and procedures that apply to drafting of client’s circumstances and potential drafting of trust documentation
- 1.3 Research strategies, laws and trust structures relevant to client circumstances
- 1.4 Recommend trust structures available to mitigate the identified risks
- 1.5 Identify and explain the benefits, risks and taxation consequences of each trust structure proposed, and confirm client preference
- 1.6 Discuss and confirm fees and cost structure for the advice on trust structures and the preparation of trust documentation with the client, and confirm client understanding and agreement
- 1.7 Seek assistance, advice or other services from internal or external specialist advisers as required
2. Prepare and present draft trust documentation
- 2.1 Prepare draft trust documentation according to client and legislative requirements and organisational policies and procedures
- 2.2 Provide draft trust documentation to client and explain documentation, trust structure and trust objectives
- 2.3 Discuss with client how the trust structure will achieve asset protection for the client
- 2.4 Explain and confirm client’s understanding of required steps to finalise and implement draft trust documentation
- 2.5 Seek and consider client feedback on draft trust documentation
3. Finalise trust documents
- 3.1 Document any amendments to draft trust documentation arising from client feedback, as required
- 3.2 Finalise draft trust documentation and prepare an execution copy of each document
- 3.3 Discuss with client any changes in final trust documentation
- 3.4 Arrange for client’s due execution of trust documentation
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS77 | FNSPRT501 | Advise clients on trust structures | 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 |