so why not advertise it on YA so you can get mugged....geez, use your head.
First grandma's will needs to be probated by a judge so you'd see an attorney first (their specialty is elder law). It will take about 18 months to process. There's probably a will to find, and then her bills will be paid, then determination of who gets the house. You can ask that attorney what to do with anything coming your way and how to INVEST it via a portfolio of investments. If you don't have education yet then you might want to put some away for that purpose.
People who win the lottery are bankrupt within a couple of years and that's because they hand out their money to anyone who asks, and to relatives who come out of the woodwork, and then they buy themself new cars, new house, and blow the money on junk. This is a warning. Do not touch that money. Save it. Forget it's there (except to check on it for security purposes) as far as spending it until your head is wound on correctly (meaning until you're thinking maturely and reasonably). Do not, however let the attorneys take all your money. Some things you can do on your own with some advice. So let that money sit. But know that it won't just be handed to you fast, it will take about 18 months.
You probably can't sign any contract until you're 18. You didn't say your age. If you're under age you may need a guardian.
Interesting your grandma skipped her own children, and charities ... but it is her will.
P S The will may be a couple / few months in probate - so do not be surprised if it is. Who is executor? - Get the house, land, and other valuables appraised for their current value.
DO NOT TELL ANYONE ! or else you will have "friends" and relatives (and suitors) coming out of the woodwork.
{As word gets out, some inheritors have been known to give each family member (say) $10,000 and tell them "That is it. No more", and mean it. Or if you love your family and prefer, take them on a nice vacation [you pay airfare, hotel, and rental car, they can pay the rest: food, attractions, souvenirs, side trips,,,,]
How old are you? What are you doing with your life? You should consider buying a good house you can live in a long time ( i e well built, good part of town, close to your friends / activities, etc).
You could also get some good advise and buy rental property. There are companies that will manage it for you so you need not know the rental laws, taxes, or who the best handyman is. And diversify. Some in carefully chosen stocks and bonds, some in CD's at a bank (say $100,000 at each of 2 banks ... as a solid cash cushion - even though interest rates are about 1%). [Jake's "secure CD" idea is a very good one.]
Enjoy some wisely. A worthwhile vacation, a new well rated car that you keep for years. You also have the chance to do charity things, community things (a local theater company, politics),,, so the world is open to you.
Watch out for / avoid life insurance products, annuities, precious metals, junk bonds, penny stocks.
You can probably live off investment earnings, maybe bank interest if you live cheap. Managing your investments could be your new job. You at least want to become educated enough to not be duped by a crooked adviser.
FYI bank accounts insurance protection by the FDIC is limited to $250,000 so you might have to tuck the more secure money away in multiple banks.
It's worth noting that a significant percentage of lottery winners end up just as broke and with fewer friends just a few hears after winning, heeding the advice they give to lottery winners might be smart.
http://www.wikihow.com/Deal-With-Winning...
http://www.forbes.com/sites/deborahljaco...
http://www.moneycrashers.com/what-to-do-...
I just put a relatively small amount into a "Secure CD Account" which requires you to appear in person at the bank to withdraw funds. This is one measure to avoid identity theft that's becoming all too common.
Remember nobody cares more about your money than you do so don't trust anyone else to manage it. Advisers often give advice to make themselves money. Learn to manage your money or put in a S&P index fund at Vanguard or Fidelity and ignore it.
Save it. Don't blow all of it on fun things. I'd diversify your portfolio between stocks, mutual funds, savings accounts, and other things that your financial adviser recommends.
google probate court!
you might be an only chuld but uncle sam is also in the inheritance!
