Except to the extent that the principles of common law and equity governing trusts are modified by this chapter or another provision of law, those principles remain the law of this state. Without limitation:

(1) No provision of this chapter shall be construed to imply that any other Code section or the common law did not, prior to the enactment of such provision, impose, permit, or otherwise address a duty, power, relationship, or any other matter governed by such provision; and

(2) The failure of the General Assembly to codify an established principle of common law or equity governing trusts shall not be construed as evidence that the General Assembly intended to reject that principle unless this chapter or another provision of law is inconsistent with that principle or there is other evidence the General Assembly intended that such principle should no longer apply.