Sec. 11. (a) If the trustee is a natural person, the trustee must have the capacity to take, hold, and deal with property for the trustee's own benefit and must be at least eighteen (18) years of age, be of sound mind and of good moral character.
(b) If the trustee is a corporation, it must have the power to take, hold, and deal with property for its own benefit and have the power to act as a trustee.
(c) Subject to section 8 of this chapter, the fact that the person named to be trustee is also a beneficiary will not disqualify the person from acting as trustee if the person is otherwise qualified.