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Evidence Guide: AHCAGB602A - 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

 

AHCAGB602A - Manage estate planning

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

Identify estate planning requirements

  1. Contingency and succession arrangements are identified and assessed against enterprise and individual requirements.
  2. Income continuation options are identified and evaluated to find best fit for enterprise requirements.
  3. Personal and business goals are identified and distinguished.
  4. Needs of those affected by succession arrangements are considered and taken account of in estate planning.
Contingency and succession arrangements are identified and assessed against enterprise and individual requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Income continuation options are identified and evaluated to find best fit for enterprise requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Personal and business goals are identified and distinguished.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Needs of those affected by succession arrangements are considered and taken account of in estate planning.

Completed
Date:

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Clarify estate planning arrangements

  1. Plans for retirement and inheritance are made clear to all relevant parties.
  2. Apparent inequities in estate distribution are discussed, clarified and mediated.
  3. Legal implications of succession planning are accounted for in determining succession arrangements and estate distribution.
  4. External advice is sought as required to clarify obligations and potential effects on business performance.
Plans for retirement and inheritance are made clear to all relevant parties.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apparent inequities in estate distribution are discussed, clarified and mediated.

Completed
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Legal implications of succession planning are accounted for in determining succession arrangements and estate distribution.

Completed
Date:

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External advice is sought as required to clarify obligations and potential effects on business performance.

Completed
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Implement estate planning

  1. Strategies for estate distribution and succession are determined and implemented.
  2. Estate structures and transfer arrangements are monitored and reviewed against tax and legislative requirements.
  3. Estate planning and succession is monitored against enterprise performance.
  4. Relevant documentation is completed to meet legal and procedural obligations, and to avoid legal complications.
Strategies for estate distribution and succession are determined and implemented.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estate structures and transfer arrangements are monitored and reviewed against tax and legislative requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Estate planning and succession is monitored against enterprise performance.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Relevant documentation is completed to meet legal and procedural obligations, and to avoid legal complications.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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

Critical aspects for assessment and evidence required to demonstrate competency in this unit

The evidence required to demonstrate competency in this unit must be relevant to workplace operations and satisfy holistically all of the requirements of the performance criteria and required skills and knowledge and include achievement of the following:

identify estate planning requirements

clarify estate planning arrangements

implement estate planning.

Context of and specific resources for assessment

Competency requires the application of work practices under work conditions. Selection and use of resources for some worksites may differ due to the regional or enterprise circumstances.

Required Skills and Knowledge

Required skills

separate personal goals from enterprise goals

behave ethically

define agreements and contracts

logically consider investment financial and retirement options

use literacy skills to fulfil job roles as required by the organisation. The level of skill may range from reading and understanding documentation to completion of written reports

use oral communication skills/language competence to fulfil the job role as specified by the organisation including questioning, active listening, asking for clarification, negotiating solutions and responding to a range of views

use numeracy skills to estimate, calculate and record complex workplace measures

use interpersonal skills to work with others and relate to people from a range of cultural, social and religious backgrounds and with a range of physical and mental abilities.

Required knowledge

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

The range statement relates to the unit of competency as a whole.

Factors influencing planning may include:

the size and asset classes of the estate

the range of options for their allocation.