It depends. There are no taxable implications in either case but there are legal implications that may be considered. When you make the trust as a beneficiary, the trustee has total control over all the assets and distributes these assets according to how they think they should be distributed. Naming three individuals as beneficiaries gives them immediate control of their shares of the assets.
Having a trustee manage the assets may be desirable if the beneficiaries are minors or in some way mentally incompetent. Also having a trustee may be desirable if the beneficiaries disagree on their shares of the assets that may be distributed. If there are a number of assets in the estate, it may be more advantageous having a trustee to manage the assets.
As i mentioned, there is no advantage tax-wise either way but it would depend if the assets need to be managed or not.
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