SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Apply knowledge of estate planning to propose a financial solution for a high net worth client 
SAQA US ID UNIT STANDARD TITLE
242592  Apply knowledge of estate planning to propose a financial solution for a high net worth client 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 6  Level TBA: Pre-2009 was L6 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who advise individuals at any life stage on Estate Planning give financial advice or engage in wealth management or financial planning. It is applicable to Financial Planners, Intermediaries, Actuaries, Sales Managers, Broker Consultants, Bankers, Key Individuals and Managers in Life Insurance and Financial Planning Organisations.

The qualifying learner is capable of:
  • Analysing the current situation of a high net worth individual.
  • Evaluating the use of Trusts as estate planning tools.
  • Investigating different scenarios to optimise the structure of an estate.
  • Advising a high net worth client on a tax effective and efficient estate planning solution. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 4 and are working towards or have a Level 5 Financial Services Qualification or equivalent. In addition, learners should be competent in the Unit Standard, Apply knowledge of estate planning to propose a financial solution for a specific client. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Trusts include, but are not limited to, testamentary, inter vivo, vesting, discretionary, business and special trusts.
  • Techniques include, but are not limited to, donations, sales, sales on loan accounts, trusts, bequests to a spouse and ownership options. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the current situation of a high net worth individual. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Knowledge of lifestyle and life stage of an individual are applied to elicit appropriate information from a high net worth client. 

    ASSESSMENT CRITERION 2 
    A complex will is interpreted to determine the intended distribution of assets. 

    ASSESSMENT CRITERION 3 
    The assets and liabilities of a high net worth individual are analysed and summarised to inform a financial solution. 

    ASSESSMENT CRITERION 4 
    The estate duty and liquidity are analysed to assess the current situation. 

    ASSESSMENT CRITERION 5 
    The treatment of offshore assets is explained with reference to Estate Duty. 

    SPECIFIC OUTCOME 2 
    Evaluate the use of trusts as estate planning tools. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different types of trust are researched in terms of the features and benefits of each. 

    ASSESSMENT CRITERION 2 
    Knowledge of tax is applied to the different types of trust to determine the appropriateness for estate planning. 

    ASSESSMENT CRITERION 3 
    A trust deed is interpreted with reference to its intended purpose. 

    ASSESSMENT CRITERION 4 
    The use of a trust is evaluated for a specific scenario. 

    SPECIFIC OUTCOME 3 
    Investigate different scenarios to optimise the structure of an estate. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different techniques for optimising the effect of tax on an estate are explained and applied to a specific scenario. 

    ASSESSMENT CRITERION 2 
    The structure of an estate is analysed to evaluate the practicality of the estate plan. 

    ASSESSMENT CRITERION 3 
    Possible solutions are proposed to ensure equitable inheritance. 

    SPECIFIC OUTCOME 4 
    Advise a high net worth client on a tax effective and efficient estate planning solution. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A financial solution is proposed and substantiated for a selected client. 

    ASSESSMENT CRITERION 2 
    An estate planning financial solution is evaluated for tax efficiency and practicality. 

    ASSESSMENT CRITERION 3 
    An estate plan is explained to a client. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in advising a client on estate planning. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise him/herself and his/her own activities by planning for review. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in analysing a client's assets. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively in advising a client on estate planning and developing an estate plan. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to see the world as a set of related systems in dealing holistically with an estate plan. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    Search words: estate planning, trusts, estate duty, financial planning, financial solution, high net worth, wealth management. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  66611   National Certificate: Wealth Management  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. AFRICAN UNION SKILLS DEVELOPMENT PTY LTD 
    2. ALCARI 233 CC T/A ALCARI (Eversdal)(TP) 
    3. Boland Public FET College - Central Office 
    4. CKP Development Agency (Pty) Ltd. 
    5. COLLEGE OF CAPE TOWN 
    6. College of Cape Town - Central Office 
    7. False Bay College 
    8. Intec College 
    9. Masifunde Training Centre (Pty) Ltd 
    10. North Link College 
    11. Old Mutual Life Assurance Company South Africa 
    12. Ray Strodl Consulting (Pty) Ltd 
    13. Ripple Effect 4 (Pty) Ltd 
    14. Sanlam Life Insurance Ltd 
    15. Sanlam Life Insurance Ltd. 
    16. South Cape College 
    17. South Cape Public FET College - Central Office 
    18. The Institute of Health Risk Managers (Pty) Ltd 
    19. Umfolozi FET College - Central Office 
    20. Universal Healthcare Services (Pty) Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.