N.Y. EPT Law § 11-A-3.1

§ 11-A-3.1 When right to income begins and ends\n (a) An income beneficiary is entitled to net income from the date on\nwhich the income interest begins. An income interest begins on the date\nspecified in the terms of the trust or, if no date is specified, on the\ndate an asset becomes subject to a trust or successive income interest.\n (b) An asset becomes subject to a trust:\n (1) on the date it is transferred to the trust in the case of an asset\nthat is transferred to a trust during the transferor's life;\n (2) on the date of a testator's death in the case of an asset that\nbecomes subject to a trust by reason of a will, even if there is an\nintervening period of administration of the testator's estate; or\n (3) on the date of an individual's death in the case of an asset that\nis transferred to a fiduciary by a third party because of the\nindividual's death.\n (c) An asset becomes subject to a successive income interest on the\nday after the preceding income interest ends, as determined under\nparagraph (d), even if there is an intervening period of administration\nto wind up the preceding income interest.\n (d) An income interest ends on the day before an income beneficiary\ndies or another terminating event occurs, or on the last day of a period\nduring which there is no beneficiary to whom a trustee may distribute\nincome.\n