1. (a) A trustee, without authorization by the court, may exercise:

   1. (1) Powers conferred by the terms of the trust; and
   2. (2) Except as limited by the terms of the trust, any other powers conferred by this chapter.
2. (b) Except as modified by the terms of a trust, the exercise of a power is subject to the fiduciary duties otherwise prescribed by law.

72 Del. Laws, c. 388, § 4; 74 Del. Laws, c. 82, § 7