Yes to first question, no to second, and your'e welcome :-)
The answers on this discussion board are general in nature and NOT intended as legal advice. Responding to questions does not constitute an attorney-client relationship. Always see a lawyer about your individual situation.
The issues you raise are of a very complex nature. It depends if this was a few hour a week part-time job or full-time job in terms of managing the assets. If this is your full-time occupation managing the Trust, then she is going to have some interest in the appreciation and valuation of the Trust. If you simply retain an attorney and CPA and a manager and they do all the work, then she really is not going to participate. If you are not working for the Trust, then she has no interest in increased valuation during the term of the marriage.
I hope this is helpful.
John N. Kitta
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An inheritance is your sole and separate property. Any work you perform during your marriage is community property. Any separate property which produces profit without your active work will produce separate property earnings. So active earnings during marriage is community property and separate property passive income remains separate property. You could enter into a marital settlement agreement and resolve all these issues between you by making a contract. If your spouse is agreeable, make sure the spouse has an attorney when you both enter into the agreement so that you cannot be successfully accused of overreaching, duress or coercion, etc.
This is NOT legal advice, is GENERAL INFORMATION ONLY, and does NOT establish an Attorney/Client Relationship with you. Therefore my answer cannot address your specific legal situation and you should not rely upon my answer in your legal matter. I am an attorney licensed in Maryland and California.