Hi Lise.....lucky girl getting hostas and peonies. Both expensive plants that are pretty care free.
Hostas prefer a shaded area, with some sunshine, but make sure the sun they get isn't the middle of the day sun, which is too hot for them. They will even do well in a large pot. I love them, because they are pretty maintanance free and as I don't get much sun in here through the trees, I'm happey with anything that can grow in the shade....lol. They tolerate drought and will 'mulitiply' each year. They like a little composted soil around them instead of fertilizer. They don't need pruning and are fairly resistant to pests.
They die in the winter, and will come back a little bigger each year. When it gets too big....dig it up....split into sections and replant the new sections. I just split mine all up last fall, and so far all but one of the new plantings have come up. Yeayyyy.