NTISthis.com

Evidence Guide: FNSPRT405 - Establish powers of attorney or financial administration orders

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

 

FNSPRT405 - Establish powers of attorney or financial administration orders

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

Take instructions on behalf of client in relation to appointment

  1. Assess and confirm capacity of client, and obtain legal or medical opinion if required
  2. Accurately establish and record instructions of client or authority and establish essential details
  3. Provide client with accurate ethical advice, recommendations and options relating to power of attorney legislative requirements
  4. Attend board hearings on behalf of client where appointed as financial administrator by guardianship tribunal or equivalent
Assess and confirm capacity of client, and obtain legal or medical opinion if required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Accurately establish and record instructions of client or authority and establish essential details

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide client with accurate ethical advice, recommendations and options relating to power of attorney legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Attend board hearings on behalf of client where appointed as financial administrator by guardianship tribunal or equivalent

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare, confirm and execute appointment

  1. Prepare drafts of documents according to legislative requirements and consistent with client’s instructions
  2. Discuss and verify documentation with client and arrange and confirm execution of documentation
  3. Review financial administration order to determine parameters of appointment, when relevant
Prepare drafts of documents according to legislative requirements and consistent with client’s instructions

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discuss and verify documentation with client and arrange and confirm execution of documentation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review financial administration order to determine parameters of appointment, when relevant

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Store documentation that records appointment

  1. Organise record keeping and safe storage of relevant documentation according to organisational requirements
  2. Create an attorneyship or financial administration file where appropriate, according to organisational requirements
Organise record keeping and safe storage of relevant documentation according to organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Create an attorneyship or financial administration file where appropriate, according to organisational requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Advise client on legal requirements of establishing the appointment

  1. 1.1 Identify client's circumstances and objectives relevant to the appointment of a power of attorney
  2. Explain to the client the types of powers the attorney holds
  3. 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
  4. 1.4 Ensure client's questions in regards to the preparation of the appointment are answered in appropriate language
1.1 Identify client's circumstances and objectives relevant to the appointment of a power of attorney

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain to the client the types of powers the attorney holds

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

1.4 Ensure client's questions in regards to the preparation of the appointment are answered in appropriate language

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 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

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 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

Evidence of the ability to:

advise client on suitable options relating to power of attorney appointments based on the client's circumstances and objectives

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

draft, execute and store a power of attorney document according to legislative requirements, organisational requirements and client's testamentary instructions.

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 federal, state and territory legislation and regulations relating to powers of attorney

explain the tests applied to establish a client’s testamentary capacity to make a valid appointment

explain the tests applied to establish the validity of an appointment

discuss the types of power of attorney appointments including:

general

enduring

limited

describe organisational policies and procedures required when establishing a power of attorney

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

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

organisational expectations

limitation of personal authority in not giving investment advice

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

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