N.Y. Estates, Powers & Trusts Law § 10-7.2
Creditors of the donee; general power presently exercisable
New York · New York Estates, Powers & Trusts Law · Status: effective · Effective 2014-09-22
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- N.Y. Estates, Powers & Trusts Law § 10-7.2, Creditors of the donee; general power presently exercisable, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1105299
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§ 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.