Query regarding huf

Hi I am 49 years old and have a family consisting of wife and two daughters aged 18 years and 12 years and I run a small propreitorship firm,marketing and promoting products of foreign companies in India on a commission basis. 1.) I would like to know whether by forming an HUF would be a legal way to lower my income tax. 2.) What will be the advantages and disadvantages of forming such an HUF. 3.) What is the procedure for forming an HUF ? Thanks & best regards.