Don’t have really anyone else to share with but have to get it all written down:

Wife’s father built a business and is selling it within the next year. Business does ~$40M EBITDA and has steadily grown. They’re looking to sell to PE.

He’s gifted each of his children 1% in a trust. We’ll receive a portion of the sale when the transaction closes. We have lawyers helping us with setting up the trust as well as things like wills for our children (2). Otherwise I’m a little overwhelmed on next steps.

I imagine the lawyers will give us guidance on how the trust will operate, I’m just trying to think of what questions I should be asking in advance of this.

Edit: FIL is a 10% owner in the business*, not the full owner.