According to Brad Verhulst, it's not worth using this model in psychiatric genetics where there are equate modes of transmissions
If one trait has a lot of heritability and the other has much less, then this model is a good candidate.
Andrew Heath et al. (1993) provides concrete guidelines.
One method of testing causality is Mendelian Randomization (see David Evan et al.s study).
Heath, A.C., Kessler, R.C., Neale, M.C., Eaves, L.J. & Kendler, K.S. (1993) Testing hypotheses about direction of causation using cross-sectional family data. Behavior Genetics 23: 29-50. [Fulltext PDF]
David Evan's paper
http://www.plosgenetics.org/article/info%3Adoi%2F10.1371%2Fjournal.pgen.1003919
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