Advance directive

As specified in the Patient Self-Determination Act, this is a legal document prepared by an individual that gives directions about his or her wishes in the event he or she becomes incapacitated and not able to make decisions. It designates a person to make medical decisions. An advance directive includes such documents as do-not-resuscitate (DNR) order, durable power of attorney, right to die document, and living will. Also called health care advance directive or living will.

Advisor

In a 401(k) defined-contribution pension plan, a firm that helps the employer choose a provider, select the investment options, and make any other decisions about the plan.