(1) A trustee, without authorization by a court, may exercise: powers conferred by the terms of the trust; and
(2) except as limited by the terms of the trust: all powers over the trust property which an unmarried competent owner has over individually owned property;
(3) any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and
(4) any other powers conferred by this chapter.
(5) The exercise of a power is subject to the fiduciary duties prescribed by this subchapter.