What are the Advantages of Setting up a Family Trust?

Placing assets in Trusts can have many benefits. These many include:

Are There Any Disadvantages in Setting up a Family Trust?

Yes there are. However, with modern trusts they are relatively few. They include:

Legal practice and requirements involving Trusts have changed in recent times and modern Trusts offer more flexibility than they did in the past. In particular, most Trust Deeds will now permit assets to be transferred back to you at a later stage, provided the trustees (who will probably include you) agree.