Representation by fiduciaries and parents.

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: A conservator may represent and bind the estate that the conservator controls; A guardian may represent and bind the ward if a conservator of the ward’s estate has not been appointed; An agent having authority to act with respect to the particular question or dispute may represent and bind the principal; A trustee may represent and bind the beneficiaries of the trust; A personal representative of a decedent’s estate may represent and bind persons interested in the estate; 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; An individual may represent a grandchild or a more remote descendent, whether born or unborn, whom a parent may not represent and bind under paragraph (6) of this subsection; and 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.