Unit of competency Outline
Date retreived
22/07/2026 3:48 PM AWST
22/07/2026 3:48 PM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Allocate, assess and supervise work within the personal trustee sector
Allocate, assess and supervise work within the personal trustee sector
Unit of competency
National Code
FNSPRT503A
FNSPRT503A
State Code
D4303
D4303
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
080303 - Human Resource Management
Original Release Date
29/07/2014
Nominal Hours
60
Description
This unit describes the performance outcomes, skills and knowledge required to assess and allocate work in regard to preparation and administration of wills, estates, trusts, attorneyships, financial administration orders and other work relevant to the personal trustee sector, supervise and monitor staff and monitor work progress.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Assess files and work
- 1.1. Client file is assessed to determine its complexity and specific needs and criteria for allocation are considered
- 1.2. Prospective new business is assessed and either accepted or rejected based on organisational criteria and standards
- 1.3. The competency and workload of staff is considered, assessed and matched to appropriate work
- 1.4. Actions to be undertaken by relevant personnel are authorised
2. Allocate files to relevant personnel
- 2.1. File is allocated to and coordinated with appropriate staff based on organisational criteria and standards
- 2.2. Files are allocated equitably, and with due regard for level of competency and experience of relevant personnel
- 2.3. File management responsibilities are undertaken in a timely and professional manner
3. Monitor work progress
- 3.1. Progress of work is reviewed and checked according to legislative requirements for legal implications and complications
- 3.2. Adherence to the terms of matters is checked and the quality of prepared legal documents evaluated, and rulings given on doubtful clauses
4. Supervise staff progress
- 4.1. Progress on file management is regularly reviewed with relevant staff
- 4.2. Responses from staff to statistical information are sought and the information reviewed and reported
- 4.3. Advice, information and knowledge is provided promptly to relevant personnel
- 4.4. Problem files are monitored closely with relevant staff and any disputes and complications handled in a timely and professional manner and according to ethical guidelines
5. Identify and manage files requiring specific needs
- 5.1. More complex issues identified within a client file are analysed and considered
- 5.2. The appropriate process required for handling each matter is identified and explained to the client, or referred to an appropriate specialist
- 5.3. If appropriate and necessary, risk management and insurance planning issues and taxation and retirement planning requirements are recognised and dealt with
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Organisational criteria and standards may include:
the professional code of conduct in the personal trustee industry, at all levels, including:
ethical practices
integrity
professionalism
confidentiality
staff training
organisational mission statements
organisational codes of conduct.
Relevant personnel may include:
external advisers
personal trust officers
senior personal trust officers.
Legislative requirements may include:
Commonwealth, State and Territory legislation and regulation relating to:
attorneyships and guardianships
financial administration orders
interstate and overseas laws relating to wills, probate, estates and trusts
intestacies
probate and administration
trustees
wills.
Prepared legal documents may include:
attorneyship documents
estate plans
guardianship orders
trust deeds
wills.
Complex issues may include:
assumptions
balance sheet, net worth and cash flow projections
client needs assessment
data gathering
financial plans
implementation and review
plan writing and legal requirements
retirement planning
social, economic and regulatory environment.
Risk management and insurance planning may include:
financial analysis of insurance products
analysing general, life and government insurance
complying with insurance policy law.
Taxation and retirement planning may include:
administration and anti-avoidance
approved deposit funds (ADFs), annuities and allocated pensions
eligible termination payments
employee benefits
income and deductions
individual income tax planning
social security
superannuation.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Organisational criteria and standards may include:
the professional code of conduct in the personal trustee industry, at all levels, including:
ethical practices
integrity
professionalism
confidentiality
staff training
organisational mission statements
organisational codes of conduct.
Relevant personnel may include:
external advisers
personal trust officers
senior personal trust officers.
Legislative requirements may include:
Commonwealth, State and Territory legislation and regulation relating to:
attorneyships and guardianships
financial administration orders
interstate and overseas laws relating to wills, probate, estates and trusts
intestacies
probate and administration
trustees
wills.
Prepared legal documents may include:
attorneyship documents
estate plans
guardianship orders
trust deeds
wills.
Complex issues may include:
assumptions
balance sheet, net worth and cash flow projections
client needs assessment
data gathering
financial plans
implementation and review
plan writing and legal requirements
retirement planning
social, economic and regulatory environment.
Risk management and insurance planning may include:
financial analysis of insurance products
analysing general, life and government insurance
complying with insurance policy law.
Taxation and retirement planning may include:
administration and anti-avoidance
approved deposit funds (ADFs), annuities and allocated pensions
eligible termination payments
employee benefits
income and deductions
individual income tax planning
social security
superannuation.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
undertake relevant tasks associated with assessing and allocating work, managing personnel, supervising the preparation of wills, estates, trusts, attorney ships, financial administration orders and administering complex accounts
apply conflict resolution skills to recognise potential conflict in a variety of situations, including internal and use strategies to defuse the situation
prepare and interpret complex financial statements, and perform complex financial calculations.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to financial services product information
access to relevant personal trustee organisation documentation and information.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
undertake relevant tasks associated with assessing and allocating work, managing personnel, supervising the preparation of wills, estates, trusts, attorney ships, financial administration orders and administering complex accounts
apply conflict resolution skills to recognise potential conflict in a variety of situations, including internal and use strategies to defuse the situation
prepare and interpret complex financial statements, and perform complex financial calculations.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the financial services work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to financial services product information
access to relevant personal trustee organisation documentation and information.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity which combines the elements of competency for the unit or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
setting and reviewing workplace projects and business simulations or scenarios
evaluating samples of work
accessing and validating third party reports.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS80 | FNSPRT503 | Assess, allocate and supervise work within the personal trustee sector | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D718 | FNS50511 | Diploma of Personal Trustees | Qualification |