AHCAGB602 Manage estate planning

Release: 1

AHCAGB602 Manage estate planning

Modification History

Release	TP Version	Comment
1	AHCv1.0	Initial release

Application

This unit of competency describes the skills and knowledge required to manage and plan the succession and distribution of an estate within a family agricultural business context.

All work must be carried out to comply with workplace procedures, work health and safety legislation and codes, and sustainability practices.

This unit applies to individuals who take personal responsibility and exercise autonomy in undertaking complex work. They must analyse information and exercise judgement to complete a range of advanced skilled activities. They work in contexts that are subject to change and adapt a range of fundamental principles accordingly.

No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.

Pre-requisite Unit

Nil.

Unit Sector

Agribusiness (AGB)

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. 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

Foundation Skills

Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.

Range of Conditions

Unit Mapping Information

This unit is equivalent to AHCAGB602A Manage estate planning.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72