Living will
From ACT Wiki
1. A contingency plan of how a financial institution could be wound up in the event of a collapse.
A requirement of the US Dodd-Frank financial reform law for financial institutions with more than $250 billion in assets.
2. More generally, a set of instructions which specifies what actions are to be taken if a person is unable to do so due to illness or incapacity.
Also known as an advance decision.
