Custom Shape Text Boxes

I'd love to be able to shape my text boxes around shapes.
For example, if I have an arrow head on a page, it'd be awesome to the have the start of each line indented to the farthest point of the arrow head, essentially creating an indented arrowhead text box. It would be perfect if this was ONE paragraph, so that editing was super smooth and easy. It would be perfect if this worked with all shapes.
The best way to do this would probably be to have a shape that you can insert a text paragraph within (similar to what you can do on PowerPoint), then you could modify the shape using the normal subselect method. The shape could then obviously just be hidden whilst the text remains in a unique cool shape.
Currently it is super hard to align line by line of text, and then one single change to a word makes the alignment off for each part.
This essentially going one step better than standard text on a path tools that obviously just focus on the edge of an object.