The proposed rule left many financial industry members wondering exactly what a credible living will
In a regulatory context, living wills
refer to plans by financial firms for the unwinding of their operations in the event of financial distress, including how the financial firm would be resolved in bankruptcy.
According to a recent report from the National Center for Health, just 13% of African Americans have a living will
in place compared with 32% of whites.
Such criticisms of the living will
must be considered together with its benefits.
For Schiavo, "It's relatively easy to say that one lesson has to do with end-of-life directives, living wills
, durable powers of attorney for health care - they go by many names, and each one means something a bit different.
It opposes living wills
and aims to reverse the trend toward giving people greater control over their end-of-life care.
For the living will
to be totally legal, at the time you sign it you must:
Since Terri Schiavo had no living will
, the Florida judges applied the "substituted judgment" standard to reach a decision about her care.
While a few states at least have a "check-off" so you can choose whether or not to be starved, in the majority you have no indication in the living will
you sign that you are agreeing to starvation.
I'm not, for one minute, suggesting we should do the same with humans, but there's a legal difference between not administering treatment and administering something to make you die which is made absolutely clear by the living will
Physicians have long advocated therefore that in addition to a living will
, one should designate a healthcare proxy or durable power of attorney in the event of incapacity.
A living will
allows a person to set out what treatments they would not wish to be given should they fall seriously ill in the future and be unable to vocalise their wishes.
A living will
sets out a patient's wishes regarding how they want to be treated if they are seriously ill.
One document, typically called a living will
, spelled out Morrison's preferences for life-sustaining medical treatment, such as ventilators and feeding tubes.
The existence of a living will
that sets out a credible path to resolving the firm without public support makes it more plausible that regulators would actually opt for bankruptcy rather than feeling forced to mount a rescue.