Without a Will Trust the asset will pass directly to an individual beneficiary, and they will have complete control as to what happens to that asset.  As the legal owner of the asset, they can do with it what they wish and are under no legal obligation to hold on to it for another beneficiary. This means other beneficiaries could stand to lose out on their inheritance, either through sideways disinheritance, third party claims reducing the value of the estate or by the irresponsible actions of another beneficiary.