Trust, can’t make up my mind!!

Hopefully someone can help me make a decision.

I have purchased and read Wealth Guardian. The idea of a trust structure sounds great but I don’t know if it will suit my circumstance.

My wife and I are directors of our own company. At present we have our own home and 2 x IP’s purchased in our own names.

We would like to invest in shares and property in the future, but would like to protect and minimise tax paid on profits generated through the company.

I was told to appoint myself as the sole director of the company and setup a discretionary trust which would take over ownership (100% shareholder)of the company. We would then create another company which would be the trustee of the trust. The trustee director being my wife.

The trust would have my wife, myself, our son, and possibly my wifes parents as beneficiaries.

I have learnt the basic advantages of this type of trust but do not know what disadvantages it brings to our structure.