N.Y. Est. Powers & Trusts Law § 10-3.3

§ 10-3.3 Classification of powers of appointment as to time of exercise;\n presently exercisable, testamentary and postponed\n (a) A power of appointment, as to the time of its exercise, is either\npresently exercisable, testamentary or postponed.\n (b) A power of appointment is presently exercisable if it may be\nexercised by the donee, during his lifetime or by his written will, at\nany time after its creation, and does not include a postponed power as\ndescribed in paragraph (d).\n (c) A power of appointment is testamentary if it is exercisable only\nby a written will of the donee.\n (d) A power of appointment is postponed if it is exercisable by the\ndonee only after the expiration of a stated time or after the occurrence\nor non-occurrence of a specified event.\n