Adding a beneficiary to your Webull account is one of the most important estate-planning steps you can take as a self-directed investor. A Transfer-on-Death (TOD) designation lets your account assets pass directly to the people you name without going through probate — which can save your heirs months of court time and significant legal fees. This guide walks through Webull’s verified TOD beneficiary flow on the mobile app, Lite mode, and web, plus the eligibility rules and edge cases. Steps below are verified against Webull’s Help Center FAQ #10977 as of May 2026.
The single most important rule: TOD beneficiaries can be designated for IRAs, Individual Cash, and Margin accounts on Webull. Joint accounts, trust accounts, and certain other account types follow different rules. We’ll walk through who qualifies and what to do for each account type.
What is a TOD beneficiary, and why does it matter?
A Transfer-on-Death designation tells the brokerage who receives your account when you die. It’s a contract between you and Webull’s clearing broker that supersedes your will for that specific account.
Benefits
- Avoids probate. Assets pass directly to beneficiaries — no probate court for the brokerage account portion of your estate.
- Faster transfer. Beneficiaries can typically claim within weeks of providing a death certificate, rather than months waiting for probate.
- Cost savings. Probate fees can run 3-7% of the estate’s value. TOD bypasses those for the brokerage portion.
- Privacy. TOD transfers are private; probate is public record.
Limitations
- TOD applies only to the specific account it’s set on. You need to set beneficiaries on each Webull account separately.
- TOD doesn’t override pay-on-death rules from a divorce decree, court order, or applicable state law.
- Some states have specific TOD-related rules (Louisiana and Puerto Rico don’t allow Webull TOD designations — see eligibility below).
Who can be your Webull beneficiary?
Per Webull’s official rules:
- Beneficiary must be a legal adult (18 or older).
- Beneficiary must have a U.S. address.
- Beneficiary must have a Tax Identification Number (SSN or ITIN).
- You can name up to 6 primary beneficiaries (the people who receive directly).
- You can name up to 6 contingent beneficiaries (the people who receive if all primary beneficiaries pre-decease you).
Where you live matters too:
- Residents of Louisiana (LA) or Puerto Rico (PR) are ineligible to add beneficiaries on Webull. State law in those jurisdictions doesn’t permit TOD on the same terms as the rest of the US — Webull doesn’t support the workaround.
Add a beneficiary on the Webull mobile app
The verified Webull app flow per the Help Center:
- Tap the Menu icon (typically the hamburger or person icon).
- Tap Settings.
- Select Account Management.
- Tap Beneficiary Information.
- On the Beneficiary Information page, tap Add Beneficiary (or the equivalent ”+” button).
- Enter the beneficiary’s full legal name, date of birth, SSN/ITIN, mailing address, and relationship to you.
- Specify the percentage of the account they’ll receive. (Percentages across all primary beneficiaries must total 100%. Same for contingent.)
- Mark them as Primary or Contingent.
- Save.
Webull validates the SSN/ITIN format and checks the address against US-state requirements.
Add a beneficiary in Webull Lite mode
If you’re using Webull Lite (the simplified interface):
- Tap the head and shoulders icon (your profile).
- Within Account Features, select Account Management.
- Tap Beneficiary Information.
- Continue with the Add Beneficiary flow as above.
Lite mode hides some advanced features, but beneficiary management is available across modes.
Add a beneficiary on Webull web
The desktop / web flow at webull.com:
- Navigate to My Account.
- Find the account you want to add beneficiaries to and select Manage My Account.
- Select View Details next to Beneficiary Information.
- Click Add Beneficiary.
- Enter the beneficiary’s information.
- Specify percentages and Primary/Contingent designation.
- Save.
The web is often the easiest interface for beneficiary management — clearer percentages display and easier to handle multiple beneficiaries at once.
Multiple beneficiaries — how to split percentages
Webull lets you set up to 6 primary and 6 contingent beneficiaries. Two rules govern percentages:
- Primary percentages must total 100% across all primary beneficiaries.
- Contingent percentages must total 100% across all contingent beneficiaries — these only apply if all primary beneficiaries pre-decease you.
Common splits
- Spouse + kids. Spouse 100% primary; kids equal-share as contingent.
- Two adult children. Each 50% primary.
- Three children. Each 33.33% primary (Webull rounds for the system; verify the math sums correctly).
- Spouse + charity. Spouse 75% primary, charity 25% primary (charity must have a US address and Tax ID).
Some users name a single primary (e.g., spouse) and name multiple contingents (e.g., kids equally). The choice depends on your estate plan.
Trusted Contact — different from beneficiary
Webull also supports a separate Trusted Contact under Account Management → Modify Profile. This is NOT the same as a beneficiary:
- Beneficiary receives your assets when you die.
- Trusted Contact is someone Webull can reach out to if Webull suspects financial exploitation or has trouble reaching you. They have no claim on your assets.
You should generally have both. Trusted Contact protects you while you’re alive; beneficiaries protect your heirs after you’re gone.
To add a Trusted Contact:
- Account Management → Modify Profile (Webull app or web).
- Find Trusted Contact section.
- Add their name, address, phone, and email.
- Save.
Revoke or change a beneficiary
If circumstances change (divorce, death of beneficiary, change of heart):
- Same path: Settings → Account Management → Beneficiary Information.
- Tap or click the existing beneficiary you want to remove.
- Tap or click Revoke (typically in the top-right of the Beneficiaries page in some interfaces).
- Confirm.
Or edit the beneficiary’s details if you just need to update their address, change the percentage split, or move them between primary and contingent.
After a divorce in particular, immediately review and update beneficiaries — divorce decrees do NOT automatically remove an ex-spouse from a TOD designation. The TOD contract overrides your will and even the divorce decree on this specific account, in most states.
What changes after you add a beneficiary
| What | Effect |
|---|---|
| Account ownership while you’re alive | Unaffected. You retain full control. |
| Your trades and balances | Unaffected. Beneficiary has no access until you die. |
| Death of account holder | Account transfers to beneficiary with proof of death and identity verification. |
| Probate involvement for this account | Bypassed (in most states; LA and PR are exceptions). |
| Estate tax | TOD doesn’t avoid estate tax — it only avoids probate. Speak with a tax professional for estate-tax planning. |
| Beneficiary’s tax basis | ”Stepped-up” basis to fair market value at date of death (current US tax law; subject to change). |
Account types that support TOD on Webull
Per Webull’s documentation:
- Traditional IRA ✅
- Roth IRA ✅
- SEP IRA ✅
- Individual Cash account ✅
- Individual Margin account ✅
NOT supported (or different rules apply):
- Joint accounts — beneficiary structure is the right of survivorship between joint owners, not TOD.
- Trust accounts — the trust itself dictates beneficiary structure.
- Custodial / UTMA accounts — beneficiary is the minor; transfers at age of majority.
Common errors and fixes
“SSN format invalid” Make sure SSN is 9 digits, no dashes (or with dashes per Webull’s input format — check the on-screen guidance).
“Beneficiary already exists” You’re trying to add the same person twice. Edit the existing entry instead.
“Percentages don’t sum to 100” Across all primary beneficiaries, percentages must total exactly 100. Same for contingent. Recalculate.
“Beneficiary address not in supported state” US address required. International addresses aren’t supported for TOD on Webull.
“Cannot add beneficiary — account state restricted” Account may be frozen, in dispute, or in a state that prevents settings changes. Contact Webull customer service.
“Beneficiary tax ID needed” Adult beneficiaries need an SSN or ITIN. Webull requires this for tax reporting at the time of distribution.
LA / PR resident error Per Webull policy, residents of Louisiana and Puerto Rico can’t add TOD beneficiaries on Webull. Consult an estate attorney for state-specific alternatives (will-based transfer or trust structures).
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Estate planning context — beyond Webull
Beneficiaries on Webull are one piece of a larger estate plan. Consider:
- Other brokerages. If you have accounts at other brokerages, set TOD on each.
- Bank accounts. Set Pay-on-Death (POD) at your bank.
- Retirement accounts (401(k), IRAs). Beneficiaries on retirement accounts override your will. Check and update.
- Life insurance. Beneficiaries on life insurance override your will too.
- Will and (where appropriate) Trust. For assets that don’t have direct beneficiary designations.
- Healthcare directive and durable power of attorney. For decisions while you’re alive but incapacitated.
Webull TOD is not a substitute for a comprehensive estate plan — but it is one of the simplest, most cost-effective steps you can take in the brokerage portion.
Tools to track your full financial picture
If you’re at the stage of thinking about beneficiaries, you’re likely also thinking about your overall financial picture:
Empower (free) → — free net-worth tracker, retirement planner, and fee analyzer. Auto-imports Webull, your bank, your 401(k), and brokerage accounts. Best free dashboard available.
Lemonade Life Insurance → — fully digital life insurance, useful as a complement to TOD designations.
If you’re sticking with Webull, Webull frequently runs free-stock promotions for new accounts, and Webull Premium adds Level II quotes and after-hours data.
FAQ
Does TOD on Webull avoid estate tax?
No. TOD avoids probate, which is a separate process from estate tax. Estate tax is a federal/state tax issue. Speak with a tax professional for estate-tax planning.
Can my minor child be a beneficiary?
Beneficiaries must be adults (18+) per Webull’s rules. To leave assets to a minor, work with an estate attorney to set up a custodial arrangement or trust.
What if I name multiple beneficiaries — how do they split?
Per the percentages you set. They must total 100% across primary beneficiaries (and 100% across contingent beneficiaries, if any).
Can a charity be a beneficiary?
Yes, if the charity has a US address and a Tax ID (most do — typically an EIN).
Does the beneficiary need to know I named them?
No. Webull notifies them at the time of distribution, after Webull receives proof of your death.
Can I name myself as my own beneficiary?
No. The whole point of TOD is to name someone else.
What if my beneficiary dies before me?
If they have no contingent on file, the assets pass through your estate (probate) instead of TOD. Contingent beneficiaries are insurance against this.
Is there a fee for adding beneficiaries?
No. TOD designation is free.
How often should I review my beneficiaries?
Annually, and immediately after major life events (marriage, divorce, birth of a child, death of a current beneficiary).
Where does Webull’s official guide live?
webull.com/help/faq/10977. Webull maintains the FAQ directly.
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