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
What evidence can you provide to prove your understanding of each of the following citeria?
Initiate the process of accepting the role of executor
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Factors to accept or renounce administration of the estate are determined and a decision is clarified Completed |
Evidence:
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Initial proceduresfor opening an estate file are undertaken Completed |
Evidence:
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Possible risk factors and irregularities in the will are identified and strategies for appropriate action determined Completed |
Evidence:
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Urgent mattersneeding immediate attention that may arise, depending on the complexity of the estate, are dealt with in a timely and professional manner Completed |
Evidence:
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If required, factors which increase the risk of litigation are identified and appropriate strategies executed Completed |
Evidence:
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Co-executors are advised of options regarding their roles and the estate administration process and the will is proven Completed |
Evidence:
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Identify, collect and distribute assets
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Assets and liabilities are identified with assets collected, transmitted or realised as requested Completed |
Evidence:
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Liquid assets are deposited in appropriate funds and cash receipted according to legal requirements Completed |
Evidence:
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Steps are taken to ensure that property is adequately insured and secured, particularly where conflict may occur Completed |
Evidence:
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Arrangements for storage of chattels, and handing over of any bequests are confirmed Completed |
Evidence:
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Beneficiaries are advised of Capital Gains Tax (CGT) implications and assets are distributed promptly according to the terms of the will or intestacy laws Completed |
Evidence:
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Scheme of Appropriation is prepared and submitted to appropriate persons for approval and all internal audit requirements complied with Completed |
Evidence:
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Ensure legal and financial requirements are finalised
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Distributable estate is finalised Completed |
Evidence:
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If required, a clearance to Date of Death (DOD) from the Australian Taxation Office (ATO) is confirmed Completed |
Evidence:
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