N.Y. Estates, Powers & Trusts Law § 10-7.2: Creditors of the donee; general power presently exercisable

§ 10-7.2 Creditors of the donee; general power presently exercisable

Property covered by a general power of appointment (other than one

exercisable solely for the support, maintenance, health and education of

the donee within the meaning of sections 2041 and 2514 of the Internal

Revenue Code) which is presently exercisable, or of a postponed power

which has become exercisable, is subject to the payment of the claims of

creditors of the donee, his estate and the expenses of administering his

estate. It is immaterial whether the power was created in the donee by

himself or by some other person, or whether the donee has or has not

purported to exercise the power.