Do I need a trust?
I believe that you need a will and a trust. The last will states who will serve as guardian for your children in the event of the death of both parents. Also, if both of you are gone, the trust will enable you to creatively manage the assets for the benefit of your children and their caregivers, without court entanglement.
Seek a qualified estate planning attorney in your area to help you.
This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.
Circular 230 Disclosure: Pursuant to recently-enacted U.S. Treasury Department Regulations, I am now required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including attachments and enclosures, is not intended or written to be used, and may not be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.