Upon petition by a trustee, beneficiary, or any interested party for good cause shown, the court, after a hearing on notice to all interested parties, in that manner as the court may direct, may divide a trust into two or more single trusts or consolidate two or more trusts into a single trust, upon those terms and conditions as it considers appropriate, provided the consolidation or division satisfies the court that:

1. (1) consolidation or division is not inconsistent with the intent of the trustor with regard to any trust to be consolidated or divided;
2. (2) consolidation or division would facilitate administration of the trusts; and

3. (3) consolidation or division would be in the best interests of all beneficiaries and not materially impair their respective interests.

   This section applies to all trusts whenever created, whether inter vivos or testamentary, created by the same or different instruments, by the same or different persons and regardless of where created or administered.

   This section does not limit the right of a trustee acting in accordance with the applicable provisions of the governing instrument to divide or consolidate trusts.

   PART 3. DUTIES AND LIABILITIES OF TRUSTEES