bnew17, why not weigh the trailer on a scale before modifying the tongue? Find a set of truck scales or other scale and dolly the jack down on the scale, tongue weight only on the scale. Then you will know what you got.
When loading a trailer, especially a pbumper pull, I always try to load with about 60% of weight forward of axle center line, 40% to the rear of center line.THE worst thing you can do is go 50/50 on axle center line. A trailer is like a teeter totter, if you remember those, you want the fat kid on the truck side so it will pull without any sway. OK, not a real fat kid, but you get my point I hope.
What kind of trailer are you starting with, pics would be a major plus in order to get sound advice from anyone here. Also length of pit area, trailer load area, additional add ons for cooking,wood storage etc.