I have never done this myself, but the agents who arrange the more expensive corporate-structure trusts always say that the corporate route is "better" for higher value assets, presumably because
- the pilot does own a bit of the plane (25%) and can block certain corporate votes; in the UK I vaguely recall that a 25%+ shareholder can block a Special Resolution e.g. a winding up of the company
- the other shareholders (75% and normally several people) are not going to die all at the same time
I did some due diligence on this at the time and an old hand in the a/c insurance trade told me there has never been a problem with trusts but there could be if the trustee died. In that case you can continue flying etc but you might have problems (or face a delay) selling the plane. This seems to be the only risk.