I think this is a good idea.

Are you in US? If so, 529 plan normally can hold around 200K. (saveingforcollege.com) You also can buy bonds and put them under your daughter's name. (http://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm)
Note, all these have an annual limit. You might need to pay gift tax if you put too much. (The gift to your daughter can come from both you and your hu*****and. That is, double personal limit.)

Set up a trust for your daughter is a good idea too. Detail you probably have to talk to a lawyer. (You can read books on estate planning/will writing.)

Another issue, during your estate planning/will writing, you probably want to appoint a guardian to your daughter, just in case.

I totally understand how you feel. However, try to get better. Miracles do happen!