<prompt> Human: Need some help with my finances, my wife recently passed away leaving me with 800,000 from a life insurance payout. I have been self-employed for 20 years owning my small business that is worth around 700,000. I have about 500,000 in a CD account and 100,000 in a savings account. Im 53 years old, make about 50k in a year, have no debts, no retirement accounts, no other investments. I will most likely sell the business within the next 5 years to live with my kids. I do not know what to do in this situation. I want to leave everything for my kids, but I want to set it up to where I can maximize their inheritance. Do I buy a universal life policy, invest in ETFs and bonds?  <response>: I wouldnt do anything right now. Youre a millionaire with a productive business. Take the time needed to mourn and then speak with a financial advisor at Vanguard or hire an hourly advisor. You dont have enough assets to justify whole life, but using tax intelligent ETFs and a SEP would make a ton of sense. 