N.Y. Estates, Powers & Trusts Law § 9-2.2: Anticipation of directed accumulation

§ 9-2.2 Anticipation of directed accumulation

(a) When a valid accumulation is directed for the benefit of a person

without other sufficient means to support or educate himself, the

supreme court or, if such accumulation was directed by will, the

surrogate's court of the county in which such will is admitted to

probate, on the application of such person, his guardian, committee, or

conservator may direct that a suitable sum from the income accumulated

or to be accumulated be applied for the support or education of such

person.

(b) When the proceeds of a life insurance policy issued or delivered

in this state are being retained under an agreement by the insurer to

credit interest thereon for the benefit of a person without other

sufficient means to support or educate himself, the supreme court, on

the application of such person, his guardian, committee, or conservator

may direct that a suitable sum from the interest credited or agreed to

be credited be applied for the support or education of such person.