(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:

   1. (i) all powers over the trust property which an unmarried competent owner has over individually owned property;
   2. (ii) any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and
   3. (iii) any other powers conferred by this chapter.