I tow my 7500 GVW trailer with my 08 Tundra with the 5.7. It pulls just fine and I have never felt a lack of power even in the steepest of mountain passes. This is a brute when it comes to actual pulling.
But....as some have mentioned it is a half ton and payload will be your limiting factor. Check the tongue weight, load your wife and boys and a few things in the bed and you should be good to go. Mine pulls nicely but I did get some LRD truck tires and that did seem to make a difference from the original tires. Also make sure you have a good weight distributing hitch with built in sway. I use and Equalizer brand and haven't had any trouble.
