(a)To the extent there is no material conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute:
(1)A conservator of the property or guardian of the property may represent and bind the estate that the conservator or guardian controls;
(2)A conservator of the person or guardian of the person may represent and bind the ward if a conservator or guardian of the ward's estate has not been appointed;
(3)An agent having authority to act with respect to the particular question or dispute may represent and bind the principal;
(4)A trustee may represent and bind the beneficiaries of the trust;
(5)When a trust is a beneficiary of another trust, the beneficiary trust may be represented by its trust
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(a) To the extent there is no material conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute: (1) A conservator of the property or guardian of the property may represent and bind the estate that the conservator or guardian controls; (2) A conservator of the person or guardian of the person may represent and bind the ward if a conservator or guardian of the ward's estate has not been appointed; (3) An agent having authority to act with respect to the particular question or dispute may represent and bind the principal; (4) A trustee may represent and bind the beneficiaries of the trust; (5) When a trust is a beneficiary of another trust, the beneficiary trust may be represented by its trustee or, if the beneficiary trust has not yet been created, has previously terminated, or is otherwise not then in existence, or the trustee is unwilling or unable to represent the trust, the beneficiary trust may be represented by those persons who are qualified beneficiaries or who would be qualified beneficiaries of the beneficiary trust if the beneficiary trust were then in existence; (6) A personal representative of a decedent's estate may represent and bind persons interested in the estate; (7) A person may represent and bind the person's minor or unborn descendant if a guardian of the property or of the person for the descendant has not been appointed. If a disagreement arises between persons seeking to represent the same minor or unborn descendant, then representation is determined as follows: (A) If only one (1) person is a beneficiary of the trust that is the subject of the representation, then that person may represent the minor descendant or unborn descendant; (B) If both persons are beneficiaries of the trust that is the subject of the representation, then the person who is related to the settlor, other than by reason of being married to the other person, may represent the minor descendant or unborn descendant; (C) Subject to subdivision (a)(7)(D), if neither person is a beneficiary of the trust that is the subject of the representation, then the person who is the settlor of the trust that is the subject of the representation may represent the minor descendant or unborn descendant; or (D) If neither person is a beneficiary or settlor of the trust that is the subject of the representation, then the person who is related to the settlor, other than by reason of being married to the other person, may represent the minor descendant or unborn descendant; (8) A person designated by the settlor in the trust instrument or in a writing delivered to the trustee to represent the beneficiaries of the trust may represent and bind the beneficiaries; (9) A person designated by the beneficiaries of the trust to represent them may represent and bind the beneficiaries; and (10) If a disinterested party is serving as trustee, then a parent, grandparent, sibling, or spouse of an incapacitated adult who has assumed responsibility for the adult as determined by the disinterested trustee in the trustee's own discretion, may represent and bind the incapacitated adult if a conservator of the property or of the person has not been appointed and an agent does not have authority to act with respect to the matter in question. (b) As used in subdivision (5), "beneficiary trust" means a trust that is a beneficiary of another trust.