First dylansdad you need to find out what this smoke is. A quick finger swipe of the tail pipe may tell you. A normal tailpipe is powdery dry, dark or light gray or maybe even black in color but it should be dry.
If your finger looks oily then thats probably whats coming out. 94000 isnt many miles so im guessing your rings are probably ok and maybe you just need to change the valve seals. A compression check will tell you if the rings and valves are ok so i'd do that first. If compression is ok, then yeah, probably the valve seals. You may want to have a shop check it out for "second opinion" first before tearing into it.
The valve seals can be changed with the head still on the car, but the camshaft might have to come out (depending on your engine?), also you will need some special tools to hold the valves in place while you change the seals. (A Special fitting using compressed air is screwed into the spark plug hole, and air is applied to hold the valves shut while you do the repair - otherwise the valves will fall inside the cylinder when you go to change the seals).
The timing belt comes off for this, so you'd wanna change that too probably. Also maybe the water pump etc. Sorry I know this is starting to look like the proverbial snowball rolling downhill by now! If i were going to do this myself i think i'd probably just go ahead and remove the head for a valve job. I have used rebuilt/remanuf heads they are like $300 but if you wind up doing all this, then you are good to go for another 100,000 probably.
To get a better look at whats involved in fixing your issue, you can download the camry factory manuals (adobe) from this site, here
http://oregonstate.edu/~tongt/camry/
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