Unit of competency Outline

Date retreived
23/07/2026 11:36 AM 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.

Establish powers of attorney or financial administration orders

Establish powers of attorney or financial administration orders

Unit of competency
National Code
FNSPRT405
State Code
AUS69
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
2.00
Current Release Date
14/01/2016
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to operate in accordance with relevant organisational and legal requirements when advising a client on establishing and executing the appointment of a power of attorney.It applies to individuals who are proficient administrators in the personal trustee sector and record client instructions for the appointment of a power of attorneyWork functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
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
No information
No information
Replaces
State Code National Code Title Type
D4299 FNSPRT405A Establish powers of attorney Unit of competency
Replaced By
State Code National Code Title Type
OEC91 FNSPRT415 Prepare and establish powers of attorney Unit of competency