Because you have a sizable estate that currently exceeds the Federal estate tax exemption, you should contact a local estate planning attorney to advise you and properly draft a will and trust. This should not be a do it yourself project.
Number 1- hire an attorney because it will be worth the investment. Number 2- what you describe is what any estate planning attorney worth his salt would do in such a situation at a minimum. It's actually pretty basic or what would be done at a comprehensive but minimal level. There are probably some additional things that could be done to accomplish further lowering the estate tax.
This is not legal advice nor intended to create an attorney-client relationship. The information provided here is informational in nature only. This attorney may not be licensed in the jurisdiction which you have a question about so the answer could be only general in nature.