The ole trust or not to trust question eh! It spins around my head from time to time but I have never got around to trusting a trust. Despite this I have been pulling equity out of the PPOR to finance new investments. I definitely don't lose sleep over not being protected by a trust. Ian and Jan Somers have accumulated their portfolio in their own names (as far as I remember) and I am always led back to this fact that they have kept it simple and saved a stack of money and hassle by not setting up and paying someone to manage trust structures.
Saying this, I am sure that there are plenty of wealthy people who have successfully accumulated huge portfolios using trusts structures.
Good luck with the decision. I, personally, have not been won over to trusts as yet.