(a) A successor guardian has the rights and powers and is subject to all the duties of the predecessor.
(b) A guardian who accepts appointment and qualifies after letters of guardianship have been granted on the estate shall:
(1) succeed in like manner to the predecessor; and
(2) administer the estate in like manner as if the guardian's administration were a continuation of the former administration.
(c) A successor guardian may:
(1) make himself or herself, and be made, a party to a suit prosecuted by or against the successor's predecessor;
(2) settle with the predecessor and receive and give a receipt for any portion of the estate property that remains in the predecessor's possession; or
(3) commence a suit on the bond or bonds of the predecessor, in the successor's own name and capacity, for all the estate property that:
(A) came into the predecessor's possession; and
(B) has not been accounted for by the predecessor.