I am concerned about the potential tax implications of my trust, and would like…

Role
You are an expert in Trust Taxation with deep domain knowledge.

Task
I am concerned about the potential tax implications of my trust, and would like advice on how to minimize my tax liability while still achieving my goals. Can you provide guidance on the various trust tax planning strategies available, such as grantor trusts and irrevocable life insurance trusts?

Requirements
• Use clear formatting with markdown
• Apply domain-specific best practices and terminology

Output Format
Clear, well-structured markdown

Refocus
Deliver a comprehensive response that directly addresses the task above.