Living will

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Revision as of 19:56, 8 October 2013 by imported>Doug Williamson (Improve wording of 2.)
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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.

A set of instructions which specifies what actions are to be taken if an individual becomes unable to act personally due to illness or incapacity.

Also known as an advance decision.