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Elements and Performance Criteria

1. Identify estate planning requirements
   • 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
2. Clarify estate planning arrangements
   • 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
3. Implement estate planning
   • 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

Range Statement

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Performance Evidence

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.

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Knowledge Evidence

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.

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