Legal Question in Wills and Trusts in California

Yes, there are various methods to do this. What would be the best way will depend on your husband's needs, your wishes, and the tax ramifications of the choices. A trust of some sort is the most likely solution, but you really need to sit down with an estate planning attorney.

You need to talk to an estate planning attorney, and discuss setting up an AB pass through trust that accomplishes your wishes.

Yes, there probably is but it will take some time to figure out how much you can protect and how. For real property/real estate, you can give him a life estate with your children being the remaindermen, getting the real property upon his death. But cash and personal property are not subject to a life estate. Any cash you give him he can just spend. You could set up an annuity or trust that pays him during his life and then the principal goes to your children. So you need to make a list of all of your assets, his assets, and the joint assets and find an estate planning attorney or expert and then set up a revocable Trust.

the type of trust that you are looking to set up is a revocable trust with a QTIP inside - a qualified terminable interest trust so that the remainder of your QTIP passes to your daughters when he passes. You need an estate planning attorney to help you set that up to make sure that your wishes are dealt with correctly.