(a) A trustee, without authorization by the court having jurisdiction, may exercise:
(1) Powers conferred by the terms of the trust instrument; or
(2) Except as limited by the terms of the trust instrument:
(A) All powers over the trust property which an unmarried competent owner has over individually owned property;
(B) Any other powers appropriate to achieve the proper investment, management and distribution of the trust property; and
(C) Any other powers conferred by this code.
(b) The exercise of a power is subject to the fiduciary duties prescribed by this article.