Setting up a trust is the most expensive structure. There are two parts, the "Trustee" and the Trust itself. Generally, the Trustee is a company (it can be an individual), so this means setting up a company as well. There are many types of trusts, however, for this post I will be referring to a Discretionary Trust.
It does give great asset protection and potential to save tax.
The Trustee company has directors and shareholders.

The profits from the trust have to be paid out to the beneficiaries of the trust.

The beneficiaries will have to include this in their tax returns. Beneficiaries can be individuals or non-individuals.

However, trading your business through a discretionary trust is not ideal. When running your business, you have to reinvest back into the business to ensure it operates profitability in the future. Having to pay cash out to the beneficiaries can be a detriment to the business success.

There are many uses for trust, I don't believe running your business through a discretionary trust the best option. Make it the shareholder of your company...