(a) To the extent there is no 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 estate may represent and bind the estate that the conservator controls; (2) a conservator of the person or guardian of an adult with intellectual disability may, with court approval, represent and bind the conserved person if a conservator of the estate has not been appointed; (3) an agent having authority to do so may represent and bind the principal; (4) a trustee may represent and bind the beneficiaries of the trust; (5) an executor or administrator of a decedent's estate may represent and bind persons interested in the estate; and (6) if a guardian of the estate has not been appointed, a parent of a minor may represent and bind the parent's minor or unborn child.
(b) Unless otherwise represented, a minor, an incapacitated or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable, may be represented by and bound by another person having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest between the representative and the person being represented.