I used to many years ago, however no longer understand them.
They are VERY complicated however were necessary when I was running my own business for many years.
They used to be a good idea however I no longer know anything about them, and the tax laws.
Great question - as the majority of people wouldn't know the in's and out's of trusts - setting them up or even managing them. AND I'm one of those unfortunately. I would love to find out what the nuances are.