Unit of competency
Modification History
Release |
Comments |
Release 2 |
This version first released with FNS Financial Services Training Package Version 2.0. |
Release 1 |
This version first released with FNS Financial Services Training Package Version 1.0. |
Application
This unit describes the skills and knowledge required to operate in accordance with relevant organisational and legal requirements when advising a client on establishing and executing the appointment of a power of attorney.
It applies to individuals who are proficient administrators in the personal trustee sector and record client instructions for the appointment of a power of attorney
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Unit Sector
Personal trustee
Elements and Performance Criteria
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 establishing the appointment |
1.1 Identify client's circumstances and objectives relevant to the appointment of a power of attorney 1.2 Explain to the client the types of powers the attorney holds 1.3 Present and clarify for the client the legislative requirements in regards to the attorney appointment and other information on products and services relevant to the client's circumstances and their estate, including fees and charges 1.4 Ensure client's questions in regards to the preparation of the appointment are answered in appropriate language |
2. Take instructions on behalf of client in relation to appointment |
2.1 Assess and confirm testamentary capacity of client in accordance with legislative and organisational requirements and obtain legal or medical opinion if required 2.2 Record instructions of client and establish details of appointment 2.3 Provide client with accurate ethical advice, recommendations and options relating to power of attorney that comply with legislative requirements |
3. Prepare, confirm and execute appointment |
3.1 Prepare a draft power of attorney in accordance with legislative requirements and consistent with client’s instructions 3.2 Discuss and verify power of attorney with client and arrange and confirm execution in accordance with legislative and organisational requirements 3.3 Organise and advise client of record-keeping, safe storage and review of power of attorney according to organisational requirements |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Reading |
1.1 |
|
Writing |
1.3, 2.2, 2.3, 3.1 |
|
Oral Communication |
1.1-1.4, 2.1, 2.3, 3.2, 3.3 |
|
Navigate the world of work |
2.1, 2.3, 3.1-3.3 |
|
Interact with others |
1.1-1.4, 2.1, 2.3, 3.2, 3.3 |
|
Get the work done |
1.1, 2.1, 2.2, 3.1-3.3 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
FNSPRT405 Establish powers of attorney or financial administration orders |
FNSPRT405 Establish powers of attorney or financial administration orders |
Minor edits to performance criteria Additional requirements added to Knowledge Evidence |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe