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 may represent and bind the estate that the conservator controls;
(2) A guardian may represent and bind the ward if a conservator 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) A personal representative of a decedent's estate may represent and bind persons interested in the estate;
(6) A parent may represent and bind the parent's minor or unborn child if a conservator or guardian for the child has not been appointed. The parent entitled to represent and bind the child is determined in the following order of priority:
(A) The parent who is a lineal descendant of a settlor;
(B) The parent who is a beneficiary of the trust that is the subject of the representation;
(C) The parent with legal custody of the child; and
(D) If one parent cannot be determined pursuant to the preceding criteria and if a disagreement arises between the parties seeking to represent the same child, a guardian ad litem shall be appointed to represent the minor child; and
(7) A qualified beneficiary may represent and bind any beneficiary who may succeed to the qualified beneficiary's interest under the terms of the trust or pursuant to the exercise of a power of appointment.