§ 11-A-3.1 When right to income begins and ends

(a) An income beneficiary is entitled to net income from the date on
which the income interest begins. An income interest begins on the date
specified in the terms of the trust or, if no date is specified, on the
date an asset becomes subject to a trust or successive income interest.

(b) An asset becomes subject to a trust:

(1) on the date it is transferred to the trust in the case of an asset
that is transferred to a trust during the transferor's life;

(2) on the date of a testator's death in the case of an asset that
becomes subject to a trust by reason of a will, even if there is an
intervening period of administration of the testator's estate; or

(3) on the date of an individual's death in the case of an asset that
is transferred to a fiduciary by a third party because of the
individual's death.

(c) An asset becomes subject to a successive income interest on the
day after the preceding income interest ends, as determined under
paragraph (d), even if there is an intervening period of administration
to wind up the preceding income interest.

(d) An income interest ends on the day before an income beneficiary
dies or another terminating event occurs, or on the last day of a period
during which there is no beneficiary to whom a trustee may distribute
income.