AHCAGB607 Manage succession planning

Release: 1

AHCAGB607 Manage succession planning

Modification History

Release	Comments
Release 1	This version released with AHC Agriculture, Horticulture, Conservation and Land Management Training Package Version 4.0.

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.

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.

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

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

Pre-requisite Unit

Nil

Unit Sector

Agribusiness (AGB)

Elements and Performance Criteria

Elements	Performance Criteria
Elements describe the essential outcomes.	Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Identify succession 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 succession planning arrangements	2.1 Make clear plans for retirement of, 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 succession 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

This section describes those language, literacy, numeracy and employment skills that are essential for performance in this unit of competency but are not explicit in the performance criteria.

Skill	Description
Reading	Access and interpret legislation, regulations and guidelines relevant to estate planning

Unit Mapping Information

Code and title current version	Code and title previous version	Comments	Equivalence status
AHCAGB607 Manage succession planning	AHCAGB602 Manage estate planning	Title updated Performance criteria clarified Foundation skills added Assessment requirements updated	Equivalent unit

Links

Companion Volumes, including Implementation Guides, are available at VETNet: - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72