I'm sorry to hear of the situation.
In a word, you fight. The offer he has made appears so entirely lopsided and unfair that you wold almost need to be comatose to agree to it.
A trust is fine, but only if a neutral third party operated the trust---not the kids with him influencing them at every step. The offer is calculated to rob you of your life savings of marital property. Everything need NOT be sold to do the division and he can't typically force that either.
Every thing will be valued in the process of the divorce and you will be entitled to 50% of every penny of marital property---as Texas is a Community Property
Don;t walk, but run to a nearby Family Law
attorney and get this going in the right direction. If you bend to these bullying tactics now, he won't give up until you are broken, emotionally and financially.
I hope that you found my answer informative, that you are accepting of my efforts and that you will rate my efforts based on the knowledge I have provided to you.
I wish you the best in 2012.