Address several critical issues concerning grantor trusts. Topics include whether grantor trusts will survive the government's attempts to eliminate their planning benefits; what happens when the grantor's liquidity fails; can grantor powers be relinquished; can the trustee of a Defective Grantor Trust help the grantor pay income taxes; when grantors die what happens to the trust; and how does a grantor trust funded with S corporation shares preserve the S election when the shares pass to heirs?