Unit of competency Outline

Date retreived
22/07/2026 10:48 AM AWST

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Prepare and establish powers of attorney

Prepare and establish powers of attorney

Unit of competency
National Code
FNSPRT415
State Code
OEC91
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
View on TGA
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
081105 - Investment And Securities
Original Release Date
07/12/2022
Nominal Hours
50
Description
This unit describes the skills and knowledge required to advise and establish the appointment of a power of attorney according to client instruction and legislative and organisational requirements.The unit applies to individuals who work as administrators in the personal trustee sector and prepare and execute powers of attorney.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Advise client on legal requirements of establishing appointment of power of attorney
  • 1.1 Determine client’s circumstances and objectives for appointment of a power of attorney
  • 1.2 Explain to client the types of powers the attorney holds
  • 1.3 Present and clarify legislative requirements regarding attorney appointment
  • 1.4 Present and clarify products and services relevant to client’s circumstances and their estate, including fees and charges
  • 1.5 Respond to client’s questions regarding preparation of appointment
  • 1.6 Confirm client’s understanding of the legislative requirements of the attorney appointment and types of powers the attorney holds
2. Take instructions on behalf of client in relation to appointment
  • 2.1 Assess and confirm testamentary capacity of client according to legislative and organisational requirements, obtaining legal or medical opinion as required
  • 2.2 Record instructions of client and establish details of powers of attorney
  • 2.3 Provide client with 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 according to client instructions and legislative requirements
  • 3.2 Discuss and verify power of attorney with client
  • 3.3 Arrange and confirm execution according to the power of attorney and legislative and organisational requirements
  • 3.4 Organise and advise client of record-keeping, safe storage and review of power of attorney according to organisational requirements
No information
No information
Replaces
State Code National Code Title Type
AUS69 FNSPRT405 Establish powers of attorney or financial administration orders Unit of competency
State Code National Code Title Type
BHU7 FNS42222 Certificate IV in Personal Trust Administration Qualification
BHX2 FNS52022 Diploma of Personal Trusts Qualification