Traditional advice on handling a windfall such as an inheritance is all about the one-third plan. Spend a third on something you want or need. Pay off bills with a third, and save a third. Some other tips:
* Don't stress over what to do with the inheritance just after receiving it. Avoid rushing into a plan.
* Spend in small increments. Instead of remodeling your house, do some smaller projects first in order to avoid irreversible decisions you could later regret.
* Have fun. It's OK to enjoy some of the money, but don't go overboard.
* Avoid risky investments and loans to relatives.
* Don't tell your spouse it's just "your money." Pay attention to your relationships.
