JOINT CONFERENCE COMMITTEE REPORT

We, the conferees, appointed by the respective bodies to consider and report upon the disagreeing vote on House Bill No. 488, report as follows:

A. We recommend that the Senate Amendments be rejected.

B. We recommend that the engrossed bill be amended as follows to resolve the matters under disagreement.

Page 1, the engrossed bill, line 20 after any

strike

except when the testator has included a spendthrift or similar protective provision.

insert

. However, termination shall not be ordered if the creator of a trust has included a spendthrift or similar protective provision unless the costs of administration are such that the establishment or continuance of the trust would impair the trust purposes.

Page 1, the engrossed bill, line 52

strike

all of lines 52 through 54

Respectfully submitted,

W. W. Bennett, Jr.

Whittington W. Clement

Richard L. Fisher

Conferees on the part of the House

Joseph B. Benedetti

Jackson E. Reasor, Jr.

Virgil H. Goode, Jr.

Conferees on the part of the Senate