Setting up a Family Trust

Hi all,

I would love to hear your opinions on the Advantages and Disadvantages of setting up a Family Trust to purchase property under as oppose to regularly purchasing under your own name.

Advantage is more paperwork to fill out each time you go for a loan....

But seriously family trusts are usually best used for business purposes rather than residential property due to the small numbers involved and lack of negative gearing.
3 advantages.

Potential asset protection
Potential tax flexibility and savings
Estate planning

Extremely complex
Set up costs
Running costs
Administrative burden
Spreading Land Tax Threshold (in some states)
Flexibility of distributing income and capital
Asset Protection

Losses can't be offset against personal income
More complex than own name
Asic fees for Trustee Company
No one mentioned serviceability in the con column. Since they don't support negative gearing, bank don't include it in their calcs.