My wife and I received $ 400,000 from a life Insurance Policy following my mother in laws passing. We owe $ 140,000 on our house. Vehicles are paid for and no credit card debt or other debt. Should we pay off house? Invest in ??? I read something about a trust fund, where you put money in an investment account and get a monthly check for XX$ for life, is this a legit option? IDK what to do, and I want to do right by my wife and my mother in law. My wife is leaving it up to me on the right way to invest/spend it. We are 37 with a 14 year old, we definitely will save some for college.