Most hitches have a tongue weight limit of 500 lbs without using a weight distribution setup.
With all due respect, I disagree. It's been my experience that most hitches can take 10% of their rated capacity, which is consistent with the general recommendation to have a 60/40 distribution on your trailer, which puts 10% of your trailer weight on your hitch. You've only got a 5000 lb tow capacity, so it's got a 500 lb weight limit. I have a 12,000 lb receiver, hitch, and ball on my truck. Each of them is rated at 1,200 lb weight limit. Again: I think that if you stay within your system's tow capacity, and correctly hit a 60/40 distribution of weight, which will place 10% of your towed weight on the hitch, you will probably be fine. But realistically, you are probably NOT going to hit 60/40 exactly, and you should probably assume as much as 20% of your towed weight is on your hitch and plan accordingly. Finally, there is no substitute for looking up the specs of your actual vehicle, receiver, hitch, ball, trailer, and etc... Nobody can really tell you what those are just by guessing and estimating.
I want to reiterate what someone else said, that you shouldn't forget your truck's rear axle weight rating. It's easy to miss that. You'll need to know the GAWR for the axle and the weight of the truck that is on the axle when the truck is empty. Unfortunately, most manufacturer's specs I have seen will give the curb weight of the truck, but won't break it out into front/rear axle weights, so you may have to take the truck by a Flying J or a Petro and put it on the scales to get a front and rear axle weight. This is more trouble than a lot of people ever go to, but if you are really concerned about safety, it's a must.
For perspective, here are the specs on my truck and trailer. This is the info that I use when determining whether a load is safe to carry. In reality, many of these specs are not relevant--for example, the front axle load will never really be exceeded, no matter how much I put in the truck, and because the truck is rated to tow 13,000 lbs, but I only have a 7,000 lb trailer, some of the truck's numbers will never be reached--but I like having them nevertheless. Also, the difference between the nominal and the actual curb weights is in part because the truck has the off-road package, which adds protective plates to the under-side. This is not taken into account in the nominal curb weights.
2005 Dodge Ram 2500 4x4 SLT Quad Cab Short Bed 5.9L HO Diesel Engine
GVWR: 9000 lbs
GAWR (front): 5200 lb
GAWR (rear): 6010 lb
GCWR: 20000 lbs
Curb Weight: 6813 lbs (nominal) - 7220 lbs (weighed 3/8/2012)
Curb Weight (front axle): 4280 lbs
Curb Weight (rear axle): 2940 lbs
Max payload: 2187 lbs (nominal) - 1780 lbs (weighed 3/8/2012)
Payload (front axle): 920 lbs
Payload (rear axle): 3070 lbs
Max towing: 13050 lbs
Hitch / Receiver System
Receiver rating: 12000 lbs
Ball mount rating: 12000 lbs
Max tongue weight: 1200 lbs (shows 372 lbs on the scale jig)
Ball rating: 12000 lbs
Trailer Specs
GAWR (each axle): 3500 lbs
GVWR: 7000 lbs
Curb weight: 1620 lbs
Regarding GVWR, with a fully-loaded trailer (7000 lbs), expected tongue weight is about 700-1050 lbs if the trailer is properly loaded. Remaining payload capacity for the truck is 730 to 1080 lbs. Passenger weight must be subtracted from this number.
Regarding GAWR (rear), the remaining capacity is more than the payload capacity of the vehicle. If the entire payload was 100% on the rear axle, the loading on the axle would be 2940 + 1780 = 4720 lbs, which is 1290 lbs less than the GAWR. In other words, as long as you stay under GVWR, you never have to worry about exceeding the GAWR of the rear axle.
Regarding GCWR, with a fully-loaded trailer (7000 lbs), remaining capacity is 20000 7000 7220 = 5780 lbs. If we further assume that the truck is loaded to its full GVWR (including the tongue weight of the trailer), this adds an additional 730 to 1080 lbs of payload, for a remaining GCWR capacity of 4700 to 5050 lbs. GCWR will not become a limiting factor, since GVWR will be reached before GCWR is even approached. With the current trailer, GCWR can be ignored.