{"id":260,"date":"2003-04-28T11:37:16","date_gmt":"2003-04-28T15:37:16","guid":{"rendered":"https:\/\/michaelben-jacob.com\/?p=260"},"modified":"2022-05-27T12:17:46","modified_gmt":"2022-05-27T16:17:46","slug":"clarifying-trusts-creditors-rights-and-the-related-tax-implications","status":"publish","type":"post","link":"https:\/\/michaelben-jacob.com\/clarifying-trusts-creditors-rights-and-the-related-tax-implications\/","title":{"rendered":"Clarifying Trusts, Creditors&#8217; Rights, And the Related Tax Implications"},"content":{"rendered":"<p>UNDER New York&#8217;s Estates, Powers and Trusts Law &#8220;a disposition in trust for the use of the creator is void as against the existing or subsequent creditors of the creator.&#8221; The statute has been interpreted as denying a settlor protection from creditors where the trust was settled for the exclusive use of the settlor: It is not clear, however, as to whether creditors of a settler can reach trust assets even if the trustees have absolute discretion to pay nothing to the settlor, and the settlor cannot compel the trustees to make any payments.<\/p>\n","protected":false},"excerpt":{"rendered":"UNDER New York&#8217;s Estates, Powers and Trusts Law &#8220;a disposition in trust for the use of the creator is void [&hellip;]","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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