I'd buy a couple albums that I've been meaning too, get some concert tickets, buy myself a dog, then probably give a few to charity and save the rest for college or something.
Start up a private travel agency, with specialization in international theme parks/resorts and cruising. I'd then hire an investment banker to help me best decide what to do with the rest of the money; maybe put it in some stocks and whatnot.
Firstly I'd pay off an outstanding debts that I may have created for my parents ( ). I'd then use the remainder of the money to purchase a new house for me and my family, but I would invest some of the money in a business. But most of the money would just be spent on clothes.