Seek to make the money LAST - don't go on spending sprees. Don't do a bunch of cosmetic work on your home to make it look prettier.
Seek emotional counsel if you have the urge to buy and buy and buy - this is a sign of depression. I believe we get a little spike in endorphines when we spend money - this feels good so we do it a lot when we're depressed. This is RISKY - try to resist the urge to shop; if possible avoid the mall, don't watch shopping channels and don't splurge.
Consider setting up a trust or annuity for yourself - this will ensure that someone doles the money to you over time.
Invest in things that will make your life more stable: Pay off credit cards then CUT THEM UP. Pay off your house and make repairs that will ensure it's in good shape for the long term. Note that I said REPAIRS not improvements - only make improvements if it make it safer or will increase the selling price.
Buy or pay off a quality car that will last you a good long time - consider a brand that will require minimal repairs and will last miles and miles. Be sure it's a size that you'll be SAFE driving - think automatic transmission, 4 door-sedan not oversized SUV with 4-on the floor!
DO NOT LOAN money to kids, grand kids or friends. Often people have every intention of paying money back but when all you have is one big chuck of money, it's value is in the potential it has to earn more. Don't whittle it away a few thousand dollar loans at a time; before you know it, the funds are gone and collecting those loans is probably impossible.
Don't make a lot of cosmetic changes to your home - unless you'll sell soon and you are SURE it will pay off big! Example: if your living room is painted dark brown, it might be wise to paint the walls a neutral color before showing it for sale - the brown color will make the room look smaller and won't suit everyone's tastes.
Don't buy a lot of flashy gifts. you don't have to buy off family or friends, they should WANT your long term financial security not a bunch of "stuff".
What should I do with dads life insurance? what should I do with my inheritance?