What can I do with $200.000?

Set up an emergency fund of 3-6 months of your living expenses.

If you have ANY debt... pay it off. All of it! And since you have been blessed to be out of debt, don't dishonor your relative's memory by getting in debt again.

Once debt free, I would Invest in retirement. Growth stock mutual funds.

If you have kids, you can save some money for their college education.

Now, if you've done all of this, your entire pay check from now on will be completely yours. Everything that went toward car and credit card debt you now keep and save.

It's also dicey on the gold advice. I can understand that we will likely be in a very inflationary period soon. But gold is also at a record high right now, and could very easily drop greatly right after you buy a bunch. Maybe you put no more than 25% of your retirement in it, but I wouldn't if this is going to be a long term investment. Gold has done pretty poorly for the past 2 decades, and it only does well when the economy is screwed up, which is only once in a great while.

If i were you i would hire a financial consultant to help you invest it.

Im a finance student ( senior) and personally i think the market is verry cheap right now... you might want to just dump all of it into a index mutual fund to incur minimal fees.

Other than that i would make sure i was contributing the maximum into my works 401k and into a roth IRA

Buy Gold. Shittons of gold.

When hyperinflation kicks in from the devaluation of our money, you don't want to see that $200,000 become barely enough to buy a loaf of bread. Just look at what happened in Germany after World War I.