This is kinda off the top of my head and would require research to refine it.
Assuming $50 million after taxes.
$2M in commodities (gold, copper)
$4M in cash in various currencies, stored in safe deposit boxes or CDs.
$3M in gifts.
$1M in excess spending (cars, girls, vacations)
$5M in real estate
That leaves $35M for stocks.
$12M in the financial sector(stuff like JPM, JEF, etc). Some stocks deserve to be down, but others have just been battered below where they should be, and it is getting close to being a good time to buy. Once the market corrects, you would want to sell some of these to provide more diversity.
$3M in Berkshire Hathaway(BRK-A). Always reliable, obvious concerns for when Buffet passes though.
$3M in current energy stocks(XOM, etc).
$3M in future energy mutual funds. Green is the new tech, or so they say. With so many little companies working towards future energy, it is hard to be sure who will explode and who will fail. A mutual fund dedicated to green energy companies will provide you diversity, with little research or worry on your part.
$6M in mutual funds that cover developing markets. These companies in these far off countries require a lot of effort to research. You and let a mutual fund do the work for you, and still have exposure to these large growth markets.
$1M in MCZ. It is a little company that I like.
$2M in GOOG. It still has room to grow.
$5M in high dividend companies, like AT&T. This provides a steady trickle of cash for you to love off of.