Assessor Resource

AHCAGB602
Manage estate planning

Assessment tool

Version 1.0
Issue Date: March 2024


This unit of competency describes the skills and knowledge required to manage and plan the succession and distribution of an estate within a family agricultural business context.

All work must be carried out to comply with workplace procedures, work health and safety legislation and codes, and sustainability practices.

This unit applies to individuals who take personal responsibility and exercise autonomy in undertaking complex work. They must analyse information and exercise judgement to complete a range of advanced skilled activities. They work in contexts that are subject to change and adapt a range of fundamental principles accordingly.

No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)



Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify estate planning requirements

1.1 Identify and assess contingency and succession arrangements against enterprise and individual requirements

1.2 Identify and evaluate income continuation options to find best fit for enterprise requirements

1.3 Identify and distinguish personal and business goals

1.4 Consider needs of those affected by succession arrangements in estate planning

2. Clarify estate planning arrangements

2.1 Make clear plans for retirement and inheritance to all relevant parties

2.2 Consider legal and financial implications of succession planning in determining succession arrangements and estate distribution

2.3 Discuss, clarify and mediate apparent inequities in estate distribution

2.4 Seek external advice as required to clarify obligations and potential effects on business performance

3. Implement estate planning

3.1 Determine and implement strategies for estate distribution and succession

3.2 Monitor and review estate structures and transfer arrangements against tax and legislative requirements

3.3 Monitor estate planning and succession against enterprise performance

3.4 Complete relevant documentation to meet legal and procedural obligations

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

identify estate planning requirements

clarify estate planning arrangements

implement estate planning

separate personal goals from enterprise goals

clarify and mediate apparent inequities in estate distribution with relevant parties where necessary

define agreements and contracts

consider investment, financial and retirement options.

The candidate must demonstrate knowledge of:

effective interpersonal communication techniques

conflict resolution, negotiation and mediation techniques

solve problems relating to estate management

goal setting strategies

working knowledge of estate structures, retirement options, wills and estate planning procedures.

Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.

Assessors must satisfy current standards for RTOs.


Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify estate planning requirements

1.1 Identify and assess contingency and succession arrangements against enterprise and individual requirements

1.2 Identify and evaluate income continuation options to find best fit for enterprise requirements

1.3 Identify and distinguish personal and business goals

1.4 Consider needs of those affected by succession arrangements in estate planning

2. Clarify estate planning arrangements

2.1 Make clear plans for retirement and inheritance to all relevant parties

2.2 Consider legal and financial implications of succession planning in determining succession arrangements and estate distribution

2.3 Discuss, clarify and mediate apparent inequities in estate distribution

2.4 Seek external advice as required to clarify obligations and potential effects on business performance

3. Implement estate planning

3.1 Determine and implement strategies for estate distribution and succession

3.2 Monitor and review estate structures and transfer arrangements against tax and legislative requirements

3.3 Monitor estate planning and succession against enterprise performance

3.4 Complete relevant documentation to meet legal and procedural obligations

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

identify estate planning requirements

clarify estate planning arrangements

implement estate planning

separate personal goals from enterprise goals

clarify and mediate apparent inequities in estate distribution with relevant parties where necessary

define agreements and contracts

consider investment, financial and retirement options.

The candidate must demonstrate knowledge of:

effective interpersonal communication techniques

conflict resolution, negotiation and mediation techniques

solve problems relating to estate management

goal setting strategies

working knowledge of estate structures, retirement options, wills and estate planning procedures.

Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.

Assessors must satisfy current standards for RTOs.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Identify and assess contingency and succession arrangements against enterprise and individual requirements 
Identify and evaluate income continuation options to find best fit for enterprise requirements 
Identify and distinguish personal and business goals 
Consider needs of those affected by succession arrangements in estate planning 
Make clear plans for retirement and inheritance to all relevant parties 
Consider legal and financial implications of succession planning in determining succession arrangements and estate distribution 
Discuss, clarify and mediate apparent inequities in estate distribution 
Seek external advice as required to clarify obligations and potential effects on business performance 
Determine and implement strategies for estate distribution and succession 
Monitor and review estate structures and transfer arrangements against tax and legislative requirements 
Monitor estate planning and succession against enterprise performance 
Complete relevant documentation to meet legal and procedural obligations 

Forms

Assessment Cover Sheet

AHCAGB602 - Manage estate planning
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:


Assessment Record Sheet

AHCAGB602 - Manage estate planning

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: