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 QUALIFICATION THAT HAS PASSED THE END DATE:

Diploma: Trust: Estate Administration

SAQA QUAL ID	QUALIFICATION TITLE
20335	Diploma: Trust: Estate Administration
ORIGINATOR
The Institute of Bankers in south Africa
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY			NQF SUB-FRAMEWORK
BANKSETA - Banking Sector Education and Training Authority			OQSF - Occupational Qualifications Sub-framework
QUALIFICATION TYPE	FIELD		SUBFIELD
Advanced Certificate	Field 03 - Business, Commerce and Management Studies		Finance, Economics and Accounting
ABET BAND	MINIMUM CREDITS	PRE-2009 NQF LEVEL	NQF LEVEL	QUAL CLASS
Undefined	240	Level 5	NQF Level 06	Regular-Provider-ELOAC
REGISTRATION STATUS		SAQA DECISION NUMBER	REGISTRATION START DATE	REGISTRATION END DATE
Passed the End Date - Status was "Reregistered"		SAQA 0480/09	2009-07-01	2012-06-30
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2013-06-30		2017-06-30

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 qualification does not replace any other qualification and is not replaced by any other qualification.

PURPOSE AND RATIONALE OF THE QUALIFICATION

The purpose of the qualification is to prepare the learner for basic practise within the fiduciary field.

This will contribute to the learner's employability and marketability both in the formal financial services sector as well as related industries thereby contributing to the economic and social up-skilling of South Africa.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Learners will have completed the Banking certificate or appropriate equivalent that will have provided them with the required literacy and numeracy competence to undertake studies at level 5.

RECOGNISE PREVIOUS LEARNING?

EXIT LEVEL OUTCOMES

1. The learner will be able to:

1 Report and administer a deceased estate.
2 Prepare for and draft a simple Will and have the Will validly executed.
3 Establish a trust in terms of a trust instrument
4 Administer a trust.
5 Terminate and distribute a trust.

2. SPECIFIC OUTCOMES

The learner will be able to:

1.
Demonstrate adequate knowledge to complete the statutory forms to report an estate.
Demonstrate an understanding of the Master's Office procedure sufficient to report an estate to the correct Master's Office.
Communicate with family members or friends reporting the estate in an empathetic manner.
Demonstrate knowledge of the statutory procedural requirements for the administration of a deceased estate.
Demonstrate an understanding of the matrimonial property regime applicable and its impact on the ownership and distribution of assets in the estate.
Demonstrate an understanding of the rules governing intestate succession sufficient to determine the heirs to the estate.
Demonstrate knowledge of the procedure involved in dealing with a foreign portion of an estate.
Demonstrate an understanding of how to deal with limited interests, massing, and redistribution of assets in a deceased estate.
Draft an accurate Liquidation & Distribution Account.
Demonstrate an understanding of the procedure involved in the transfer and sale of immovable property.
Demonstrate knowledge of the way in which business interests should be dealt with in an estate.
Demonstrate knowledge of the order and timing in which liabilities and inheritances are transferred to the creditors and heirs of the estate.
Calculate estate duty payable by an estate, and demonstrate knowledge of how and when estate duty should be paid.

2.
Demonstrate knowledge of the law governing succession and Wills to the extent that he/she can take adequate instructions from a person in order to draft a Will.
Analyse the information obtained about the person's marital status, financial affairs, and personal circumstances and responsibilities in order to provide the person with suitable advice regarding the structuring of the Will.
Demonstrate knowledge of the implications of marital regimes, limited interests, classes of beneficiaries, collation, and abatement.
Demonstrate knowledge of the structure necessary for a valid Will, and draft such a document.
Demonstrate knowledge of how a Will should be signed and dated.
Demonstrate knowledge of whom may sign as a witness to the testator's signing of a Will.

3.
Demonstrate knowledge of the different types of trusts.
Analyse and interpret the trust instrument in order to identify what information and documents should be collected.
Analyse and interpret the trust instrument in order to identify income and capital beneficiaries, and co-trustees.
Demonstrate knowledge of the various authorities that must be informed of the establishment of the trust.
Demonstrate adequate care in taking over the assets for the trust.
Demonstrate knowledge of the different legal requirements applicable to residents, non-residents, emigrants, and immigrants.
Demonstrate an understanding of different classes of assets and investments, and knowledge of how to deal with such assets and investments.

4.
Interpret and analyse the trust instrument in order to determine the income and the capital beneficiaries and to calculate the value of the benefits they are to receive and the timing of the receipt of such benefit.
Demonstrate adequate knowledge of income tax to be able to identify the taxpayers liable for payment of tax on trust income received, and to be able to complete a tax return for the trust.
Obtain a valuation of the assets in the trust and prepare a Capital Distribution Statement from this information.
Demonstrate adequate knowledge of tax matters to finalise tax issues concerning the trust.
Demonstrate knowledge of different classes of assets such that these assets can be suitably transferred to beneficiaries.

ASSOCIATED ASSESSMENT CRITERIA

Determine whether the learner:

Is able to present appropriate evidence in the form of estate and trust administration and management.Determine whether the learner:

INTEGRATED ASSESSMENT

To ensure that all relevant material is effectively integrated, summative assessment integrating the cross-field and specific outcomes needs to be incorporated. Assessors must develop assessment instruments that adhere to the assessment criteria and adequately cover the exit-level outcomes in relation to the purpose of the qualification.

Assessment strategy

Continuous assessment by means of written assignments, projects, tests, case studies, seminars, tutorial exercises will be used to monitor learners' progress and for remedial purposes.

ARTICULATION OPTIONS

Attainment of this qualification allows the learner access to:

1 Any other level 5 diploma offered by the IOB.
2 Any level 6 degree offered by the IOB.
3 BComm qualifications offered by tertiary institutions such as University of Pretoria and Unisa.
4 A first degree in Banking as offered by Technikons.

MODERATION OPTIONS

Internal moderation of learner achievement will be conducted by the IOB. The IOB ETQA will conduct external moderation. Additional moderation will be conducted in accordance with stipulated regulations and moderating bodies as appointed by SAQA.

CRITERIA FOR THE REGISTRATION OF ASSESSORS

Assessors for this qualification will adhere to the following criteria:

1 Will be subject matter experts in the relevant field of expertise.
2 Will have successfully completed training as assessors.
3 Will comply with any criteria for registration as may be set out and determined by the Institute of Bankers Education and Training Quality Assurance body (IOB ETQA).

REREGISTRATION HISTORY

As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2006; 2009.

NOTES

N/A

LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION:

NONE

PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION:

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.

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