Do I need a trust?

Hi All,

As per my latest post I and my partner have just put in an O&A for a commercial property – which has been accepted. I was advised to look at setting up a trust and purchasing this property under the trust. 

Therefore the contract  is under the names of: 
Wayne Leech And Lisa Russell OR Nominee 

In the Special Conditions it then states: 

The Nominees are: Wayne Andrew Leech as trustee for the "The Leech Family Trust". 
(This trust hasn't been setup yet)

However since not really knowing about trusts I’m not sure if we are going down the right path.  Not to mention, since putting in the offer my parents would now like to be part owners of the property. 

Therefore I have two questions; 

1. Is it worth setting up and buying this with a trust?  Just to let you know, I have one other IP and a PPOR.  The IP is neutral, the PPOR we own out right, and the commercial property we are purchasing will be negatively geared. 

2. If we wanted to change the contract to include my parent’s name, is this just a matter of the contract being changed and initialed by us and the seller?

Thanks in advance!