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Evidence Guide: AHCAGB602 - Manage estate planning

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

AHCAGB602 - Manage estate planning

What evidence can you provide to prove your understanding of each of the following citeria?

Identify estate planning requirements

  1. Identify and assess contingency and succession arrangements against enterprise and individual requirements
  2. Identify and evaluate income continuation options to find best fit for enterprise requirements
  3. Identify and distinguish personal and business goals
  4. Consider needs of those affected by succession arrangements in estate planning
Identify and assess contingency and succession arrangements against enterprise and individual requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and distinguish personal and business goals

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consider needs of those affected by succession arrangements in estate planning

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Clarify estate planning arrangements

  1. Make clear plans for retirement and inheritance to all relevant parties
  2. Consider legal and financial implications of succession planning in determining succession arrangements and estate distribution
  3. Discuss, clarify and mediate apparent inequities in estate distribution
  4. Seek external advice as required to clarify obligations and potential effects on business performance
Make clear plans for retirement and inheritance to all relevant parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discuss, clarify and mediate apparent inequities in estate distribution

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement estate planning

  1. Determine and implement strategies for estate distribution and succession
  2. Monitor and review estate structures and transfer arrangements against tax and legislative requirements
  3. Monitor estate planning and succession against enterprise performance
  4. Complete relevant documentation to meet legal and procedural obligations
Determine and implement strategies for estate distribution and succession

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor estate planning and succession against enterprise performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete relevant documentation to meet legal and procedural obligations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Required Skills and Knowledge

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.

Range Statement