I prefer the family subscription over the individual one. My reasoning does relate to trust. I trust my entire family with all my accounts, the ones to which my passwords grant access. But, I don't trust my entire family to practice the same discipline that I have in protecting the credentials of those accounts.
I do expect certain family members to be less cautious than I am when walking away from their computers. Therefore, I'd not want particularly critical passwords to be available in their vaults. Also, my wife is not technical. I can't really trust her to not accidentally delete or modify an entry in her vault. I need a level of isolation to protect the family's critical passwords.
Having said that, I have provided my family a disaster recovery process should I become incapacitated. It starts with written instructions. If they follow those, then they can derive my master password and then take over the administration of the family's passwords.