He must be up to something, because the Trust (if I’m not mistaken) is untouchable as is. “Protecting the minor children’s financial interest” is pure BS. It’s protected already, without doing a thing.
And assuming equal shares, he’s reduced his two minor children’s share in the trust by 33% by putting his girlfriend, now “daughter” into the trust.
I have a very strong feeling this will not stand up in court. There is something in the law referred to as a “fraudulent conveyance”. This seems pretty fraudulent to me.