My father passed away last year and the settling of the estate is almost done.

Right now, before the real estate is sold (which will be quite some time), I'm going to be receiving 40k as soon as all 4 of us sign off on the current disposition.

My gut is to take at least 20k (maybe all 40 and refinance our current 4.5% 15 year (now 14) and go to 3.33% for 10 (or see if we do 5 year with all 40). We owe about 199K with current payments of 1841/month.

Then still try to figure out what to do with the possible remaining 20k (possibly get it into a savings for potential college for The Boy).

Critiques? Suggestions?