What to do with trust fund?

[Jason C.]

Upon the death of a relative, a trust was established in my name. In 2 years I will gain control of 50% of the trust and gain control of the remainder 5 years after that.

In 2 years 50% will likely be worth between $225k-$250k. At that time, my debt will consist of $55k in student loans and $85k remaining on my mortgage (4.1% rate). My emergency fund will likely be $4k-$5k. My gross household income is currently around $65k/year. I get the full match on my 401k and contribute to a Roth IRA, although not the maximum amount yet.

My question is what are some suggestions as to how I should invest/continue investing the money? I assume the standard answer would be to up my emergency fund, pay off the student loans and possibly the mortgage, and continue investing the rest as is; allocated across mutual/index funds based upon my age.

However, my goal is to get to a point where I eventually work for myself and to use this money to work towards this goal. A few of the more standard ideas I have come up with are real estate, angel investing, business partnerships, etc. While I do not claim to be an expert in any of these fields, I was thinking I could spend the next 2 years educating myself on some or all of these topics, so I can be ready to put my money to work when the time comes.

Thoughts? Suggestions? Thanks in advance.