[MRM]

Leland, I'm going to offer some very serious advice. I hope you are able to wade through the advice you're getting and select the good from the bad.

First, congratulations on your windfall. Your grandparents did this because they wanted to give you a gift. Accept it as a gift in the spirit it was offered to you. Do not get all bound up in the details and forget to celebrate and enjoy the experience. This is literally a once in a lifetime event, receiving an inheritance out of the blue. Savor it. Dream a bit, have some fun with it. Then get down to the real work of deciding how to take care of it and what to do with it.

Second, be ready for this to change your life, and not necessarily in a good way. I used to do a lot of work with structured settlement people who handled payouts to people who receive personal injury money. They used to tell me that studies shown two things. First, the most money a single person or household can absorb without it changing their life is about $100,000. Any more than that and the money starts tearing at the fabric of the family and changing the people. That's why lottery winners often have such bad stories. Second, something like 80% of people who receive 6 figure plus settlements spend the whole thing within a year unless they buy an annuity that locks the money away.

Third, do not take any tax or financial advice from anyone who is not a professional of your choosing. Start with the lawyers for your grandparents' trust. They apparently have done their job well; that is how you got your money. Start with them for initial tax advice and handling instructions. Have them recommend an accountants and tax professionals. You are now in an asset class where you need professional money management. Sit back and have a glass of champagne with your wife as you get your mind around that concept: you have so much money you have to hire someone to help you manage it! It's true. You might no always need a professional's help, but you need it now and into the foreseeable future.

Finally, take some of the money and enjoy it. Take the rest and invest it. Never risk the principle. Spend, risk or enjoy the income off the trust. Don't ever risk the principle and you'll never go wrong. Don't worry about the type of investment for now. Just remember that over 5 years, an S&P 500 index fund beats 85% of all fund managers, and after 10 years it beats something like 95%. Don't get too clever.

On a personal note, I couldn't be happier for you. We've almost never spoken on line, but I've been a fan of yours since the days you and Warren used to post all hours of the night about the crazy troubleshooting you were running down and Jack was selling you his old seats out of BBI. It's been a lot of years and I've and the pleasure of following you from your wild and crazy AF days and watching you blossom. If anyone can use this money well and not be changed by it for the worse, it is you and your wonderful wife. Good luck and God bless to both of you.

ROT911 and Dueller both handle a lot more trusts and estates than me. They'll chime in soon. Take their advice. It will be correct.

Mike