Competency Framework: planning for later life
Technical Domains
12. Planning for later life
This domain is about issues relating to planning for later life, including: wills; trusts; pre-paid funeral plans; funeral costs; support for carers; care costs; Power of Attorney; intestacy probate; sources of support; scams. The domain comprises Tiers 1, 2 and 3.Â
- Tier 1
- Tier 2
- Tier 3
| 12.1.1 | Awareness of what a will is and why you may have one |
| 12.1.2 | Awareness of pre-paid funeral plans |
| 12.1.3 | Awareness of the factors that contribute towards funeral costs (eg casket, cremation, burial etc.) |
| 12.1.4 | Awareness of support available nationally and locally for carers |
| 12.1.5 | Awareness of the complexity of care costs |
| 12.1.6 | Awareness of Power of Attorney and third party access |
| 12.1.7 | Signpost or refer customers to appropriate sources of information and support |
| 12.1.8 | Awareness of scams and what to do if a customer has been the subject of a scam |
| 12.2.1 | Knowledge of the process for creating a will |
| 12.2.2 | Knowledge of the difference between a will and a trust |
| 12.2.3 | Knowledge of what a pre-paid funeral plan usually includes and who provides them |
| 12.2.4 | Knowledge of the eligibility criteria and application process for support for carers (e.g. Carers Allowance), and other routes such as NHS and Local Authority funding |
| 12.2.5 | Knowledge of Power of Attorney, how to obtain it and the areas that it covers |
| 12.2.6 | Knowledge of the impact of claiming support on other benefits entitlements |
| 12.2.7 | Knowledge of inheritance tax, when this applies and when this doesn’t apply |
| 12.2.8 | Knowledge of care costs and funding available (e.g. NHS continuing Healthcare, Local Authority funding support etc.) |
| 12.2.9 | Knowledge of equity release and recognise the limits of advice that can be given (refer to Section D ‘The boundaries of the service and of your role’ and the description of advice) |
| 12.3.1 | Knowledge of the use of wills and trusts and the role of an Attorney and an Executor |
| 12.3.2 | Knowledge of the regulations covering wills and legacy planning and recognise the limits of advice that can be given (please refer to the boundaries of the service and of your role and the description of advice) |
| 12.3.3 | Knowledge of the use of trusts and other structures to meet long-term wishes |
| 12.3.4 | Knowledge of the impact of intestacy (including when partners are not married/civil partnership), powers of attorney or court protection |
| 12.3.5 | Knowledge of care cost funding appeals processes |
| 12.3.6 | Understanding of probate and how this can affect liability for debts |
Training and qualifications
Find out about external training for the planning for later life domain.
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