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How to put a beneficiary on file
A short form that can matter more than your will.
Current as of October 2026. Laws and figures can change — see full disclaimer.
Many accounts let you name a beneficiary: the person who receives the account when you die. When there's a named beneficiary, the account usually goes straight to them without probate court, and it goes to them even if your will says something else.
Accounts that usually allow one
| Account | What it's called | Where to set it |
|---|---|---|
| Bank accounts | Payable-on-death (POD) | Bank website or a branch |
| Brokerage accounts | Transfer-on-death (TOD) | Brokerage website |
| 401(k), IRA and pensions | Beneficiary designation | Plan website or HR |
| Life insurance | Beneficiary | Insurer or HR, for work policies |
| Cars and homes, in some states | TOD title or deed | DMV or county recorder |
How it usually works
- Online, beneficiaries are usually under a "beneficiaries" section in the account settings. In person, a bank teller or branch staff can usually help with the form on the spot. The number on the back of the card is another option.
- The form asks for each person's full name. Some also ask for a birth date or Social Security number.
- Many forms let you name a backup, called a contingent beneficiary, in case the first person dies first.
- Many people save the confirmation and note in their binder who's named on each account.
Rules that vary
- For a 401(k), federal law generally makes your spouse the beneficiary unless they sign a written waiver. IRAs generally don't have this federal rule.
- In community-property states, a spouse may have rights to part of an account even if someone else is named.
- Transfer-on-death deeds for homes and TOD titles for cars are only available in some states.
Good to know
Life changes like marriage, divorce or a new baby are common times to check these forms. For work plans like a 401(k) or employer life insurance, federal law generally pays whoever is on the form, even an ex-spouse. For individual policies, about half of states automatically remove an ex after divorce.