To the extent there is no material 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 person may represent and bind the person's minor or unborn descendant if a guardian for the descendant has not been appointed;
(7) A person designated by the settlor in the trust instrument or in a writing delivered to the trustee to represent the beneficiaries of the trust may represent and bind such beneficiaries; and
(8) A person designated by the beneficiaries of the trust to represent them may represent and bind such beneficiaries.