(1) Except as otherwise provided in the terms of the trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.
(2) The terms of a trust prevail over any provision of this chapter, except:
(a) The requirements for creating a trust;
(b) The duty of a trustee to act in good faith and in the interests of the beneficiaries;
(c) The requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;
(d) The power of the court to change or terminate a trust under Subchapter 4 of this chapter;
(e) The effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Subchapter 5 of this chapter;
(f) The power of the court under KRS 386B.7-020 to require, dispense with, or modify or terminate a bond;
(g) The power of the court under KRS 386B.7-080(2) to adjust a trustee's compensation as specified in the terms of the trust which is unreasonably low or high;
(h) The duty to notify and report under KRS 386B.8-130(2);
(i) The effect of an exculpatory term under KRS 386B.10-080;
(j) The rights under KRS 386B.10-100, 386B.10-110, and 386B.10-120 of a person other than a trustee or beneficiary;
(k) Periods of limitation for commencing a judicial proceeding;
(l) The power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and (m) The subject-matter jurisdiction of the court and venue for commencing a proceeding as provided in KRS 386B.2-030 and 386B.2-040.