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Evidence Guide: FNSPRT402 - Prepare a will

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

 

FNSPRT402 - Prepare a will

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

Advise client on nature of wills

  1. Present and clarify legislative requirements related to testamentary instructions and other relevant information to client
  2. Ensure client questions are answered accurately, completely and in appropriate language
  3. Provide accurate information, ethical advice and recommendations about suitable options to client
  4. Identify potential conflicts or factors which may affect validity of legal matters, and clearly communicate strategies for appropriate action including necessary liaison with client’s other professional advisers
Present and clarify legislative requirements related to testamentary instructions and other relevant information to client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure client questions are answered accurately, completely and in appropriate language

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide accurate information, ethical advice and recommendations about suitable options to client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify potential conflicts or factors which may affect validity of legal matters, and clearly communicate strategies for appropriate action including necessary liaison with client’s other professional advisers

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Take testamentary instructions from client

  1. Select appropriate location for taking instructions from client
  2. Accurately and appropriately assess client’s testamentary capacity or confirm with legal or medical opinion, if required
  3. Accurately record client instructions in accordance with organisational policy
  4. Establish essential details about client, and clarify and confirm client instructions
Select appropriate location for taking instructions from client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Accurately and appropriately assess client’s testamentary capacity or confirm with legal or medical opinion, if required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Accurately record client instructions in accordance with organisational policy

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish essential details about client, and clarify and confirm client instructions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare and execute documents

  1. 3.1 Prepare drafts of will according to legislative requirements and consistent with client's instructions and essential obligations
  2. Check will for legal implications and complications, and obtain client’s verification of will
  3. Arrange and confirm correct execution of will
  4. Organise record-keeping and safe storage of will according to organisational requirements
3.1 Prepare drafts of will according to legislative requirements and consistent with client's instructions and essential obligations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check will for legal implications and complications, and obtain client’s verification of will

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Arrange and confirm correct execution of will

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Organise record-keeping and safe storage of will according to organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review will

  1. Organise process for reviewing will according to organisational requirements and client instructions, and execute reviewed will as agreed
  2. Maintain communication with client’s professional advisers
Organise process for reviewing will according to organisational requirements and client instructions, and execute reviewed will as agreed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Maintain communication with client’s professional advisers

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise client on legal requirements of preparing a will

  1. 1.1 Identify client's circumstances, estate objectives and an appropriate location for meeting with client
  2. 1.2 Present and clarify for the client the legislative requirements in regards to the preparation of their will and other information on products and services relevant to the client's circumstances and their estate, including fees and charges
  3. 1.3 Ensure client's questions in regards to the preparation of their will and distribution of their estate are answered in appropriate language
  4. Provide accurate information, ethical advice and recommendations about suitable options to client in regards to the preparation their will and the distribution of their estate
  5. Identify and explain to the client the potential conflicts or factors which may affect the implementation of their will and recommend appropriate action including seeking the advice of specialists when necessary
1.1 Identify client's circumstances, estate objectives and an appropriate location for meeting with client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

1.2 Present and clarify for the client the legislative requirements in regards to the preparation of their will and other information on products and services relevant to the client's circumstances and their estate, including fees and charges

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

1.3 Ensure client's questions in regards to the preparation of their will and distribution of their estate are answered in appropriate language

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide accurate information, ethical advice and recommendations about suitable options to client in regards to the preparation their will and the distribution of their estate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and explain to the client the potential conflicts or factors which may affect the implementation of their will and recommend appropriate action including seeking the advice of specialists when necessary

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. Advise client on legal requirements of preparing a will

1.1 Identify client's circumstances, estate objectives and an appropriate location for meeting with client

1.2 Present and clarify for the client the legislative requirements in regards to the preparation of their will and other information on products and services relevant to the client's circumstances and their estate, including fees and charges

1.3 Ensure client's questions in regards to the preparation of their will and distribution of their estate are answered in appropriate language

1.4 Provide accurate information, ethical advice and recommendations about suitable options to client in regards to the preparation their will and the distribution of their estate

1.5 Identify and explain to the client the potential conflicts or factors which may affect the implementation of their will and recommend appropriate action including seeking the advice of specialists when necessary

2. Take testamentary instructions from client

2.1 Meet with client at the appropriate location selected for taking instructions from client

2.2 Accurately and appropriately assess client’s testamentary capacity in accordance with legislative and organisational requirements and confirm with legal or medical opinion when necessary

2.3 Collate and confirm relevant client details and client's testamentary instructions

2.4 Accurately record client's testamentary instructions in accordance with organisational policies

3. Prepare and execute documents

3.1 Prepare a draft of the will in accordance with legislative requirements and consistent with client's testamentary instructions

3.2 Check will for legal implications and complications and address these referring to specialists where necessary

3.3 Arrange and confirm correct execution of will in accordance with legislative and organisational requirements

3.4 Organise and advise client of record-keeping, safe storage and review of will according to organisational requirements

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. Advise client on legal requirements of preparing a will

1.1 Identify client's circumstances, estate objectives and an appropriate location for meeting with client

1.2 Present and clarify for the client the legislative requirements in regards to the preparation of their will and other information on products and services relevant to the client's circumstances and their estate, including fees and charges

1.3 Ensure client's questions in regards to the preparation of their will and distribution of their estate are answered in appropriate language

1.4 Provide accurate information, ethical advice and recommendations about suitable options to client in regards to the preparation their will and the distribution of their estate

1.5 Identify and explain to the client the potential conflicts or factors which may affect the implementation of their will and recommend appropriate action including seeking the advice of specialists when necessary

2. Take testamentary instructions from client

2.1 Meet with client at the appropriate location selected for taking instructions from client

2.2 Accurately and appropriately assess client’s testamentary capacity in accordance with legislative and organisational requirements and confirm with legal or medical opinion when necessary

2.3 Collate and confirm relevant client details and client's testamentary instructions

2.4 Accurately record client's testamentary instructions in accordance with organisational policies

3. Prepare and execute documents

3.1 Prepare a draft of the will in accordance with legislative requirements and consistent with client's testamentary instructions

3.2 Check will for legal implications and complications and address these referring to specialists where necessary

3.3 Arrange and confirm correct execution of will in accordance with legislative and organisational requirements

3.4 Organise and advise client of record-keeping, safe storage and review of will according to organisational requirements

Evidence of the ability to:

draft, execute and store a will in accordance with legislative and organisational requirements and client's testamentary instructions

identify the need, and conduct the process, to prove a client's testamentary capacity

identify and manage factors that may affect the implementation of the will.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

describe the key legislative requirements of relevant federal, state and territory legislation and regulations relating to:

wills

intestate succession

probate and administration

trusteeships including investment and obligations of the trustees

taxation and tax obligations as they relate to the administration of estates and trusts

describe organisational policies and procedures required when preparing a will

outline products and services offered by personal trustee organisations and fees and charges that apply

outline role, responsibilities and powers of the personal trust officer including:

organisational expectations

limitation of personal authority in giving investment advice

outline the professional code of conduct, where applicable, in the personal trustee sector

explain the types of tests applied to establish a client’s testamentary capacity to make a valid will

explain the tests applied to establish the validity of a will

describe the different types of potential conflicts and factors that may affect the validity of a will including:

adequate family provision claims

ownership of nominated assets

explain the factors that make a location appropriate including:

free from influencing factors

familiar to client

comfortable and private

identify the role of, and how and when to contact, internal or external specialists relating to the personal trustee sector.