These plans have generous contribution limits that increase with age, which may allow high-income business owners to catch up on retirement savings and significantly reduce their taxable incomes.

The prospect of unlimited paid time off may be appealing, but there are also some potential pitfalls to consider.

Closed-end funds are considered to carry higher risk but may provide a higher income stream than traditional mutual funds holding similar securities.

It’s important for heirs to consider how a windfall might be used to strengthen their finances now and over the long term.