N.Y. Est. Powers & Trusts Law § 10-7.2

§ 10-7.2 Creditors of the donee; general power presently exercisable\n Property covered by a general power of appointment (other than one\nexercisable solely for the support, maintenance, health and education of\nthe donee within the meaning of sections 2041 and 2514 of the Internal\nRevenue Code) which is presently exercisable, or of a postponed power\nwhich has become exercisable, is subject to the payment of the claims of\ncreditors of the donee, his estate and the expenses of administering his\nestate. It is immaterial whether the power was created in the donee by\nhimself or by some other person, or whether the donee has or has not\npurported to exercise the power.\n