Section 10-7.4. Creditors of the donee; general power not presently exercisable

(a)  Property  covered  by  a general power of appointment which, when
  created, is not presently exercisable is subject to the payment  of  the
  claims  of  creditors  of  the  donee,  his  estate  and the expenses of
  administering his estate, only:
    (1) If the power was created by the donee in favor of himself; or
    (2) If a postponed power becomes exercisable in  accordance  with  the
  terms  of  the creating instrument, except in the case of a testamentary
  general power.