Where a trust is created to receive the income from property and no
valid direction for accumulation is given, the income in excess of the
sum necessary for the education and support of the beneficiary is
subject to the claims of his creditors in the same manner as other
property which cannot be reached by execution.
Structure New York Laws
EPT - Estates, Powers and Trusts
Part 3 - Rights of Purchasers, Creditors and Other Persons
7-3.1 - Disposition in Trust for Creator Void as Against Creditors
7-3.2 - Bona Fide Purchasers and Creditors Protected
7-3.3 - Person Paying Money to the Trustee Protected
7-3.4 - Excess Income From Trust Property Subject to Creditors' Claims
7-3.5 - Rights of Creditors to Obtain Information Concerning Beneficiaries