LiqTen summed it up nicely. IMO, those three advantages alone are all the reason one needs to forget individual ownership. BUT let's not forget the original reason of a living trust; inheritance without probate, and in this case, a F4 transfer and new tax stamp. As the trust continues to be the proprietor of the property, your decedents can take up custodianship of the property with less effort, time/money.
Imagine if your father left you his gun collection in his Will. It contains a number of NFA whatnots, and you have to cough up a $200 tax stamp for each one.
For this end of the discussion, legal advice is required and you shouldn't get it from me or anyone else on the internet. The problems that can ensnare you would come from things like divorce, lawsuits, etc. The trust needs to be drafted with any imaginable contingencies included.