[mosesbotbol]

Put it into a bank escrow until you decide.

You talk to firms like John Hancock, Fidelty or Putnam and see what kind of programs suit your needs. There are also accounting firms that handle "windfall" kind of situations to ensure you are doing the right thing.

As much as I would love an inheritance, having my family alive is even better.

What ever you decide, take your time.

Investment real estate is good depending where you live. In Boston, student housing rentals are generally good investments, especially if you have reserves. You could expect 10-15% return quite easily as well as the intrinsic value of the property. Not everyone lives in strong rental market areas though.