How To Set A Webull Beneficiary Explained

When it comes to financial planning, it is essential to consider not only the present but also the future.

One crucial aspect of this is ensuring that your assets are distributed according to your wishes in case of your death.

That's where the concept of a beneficiary comes in.

A beneficiary is a person or entity you designate to receive your assets after your death.

New to Webull? Check out my full tutorial below!

Does Webull Offer Beneficiary Designation?

Webull, a US-based broker-dealer, offers beneficiary designation exclusively for its IRA accounts.

An IRA (Individual Retirement Account) is a special investment account that helps individuals save for retirement with tax advantages.

If you have an IRA with Webull, it’s very important to name a beneficiary. This ensures your assets pass directly to your chosen persons without delays.

Note: Beneficiary designation is not available for Webull individual brokerage accounts, which means those assets must pass through your estate and the probate process upon your death.

Why Does Beneficiary Designation Matter?

When you name a beneficiary for your Webull IRA, your assets transfer directly to that individual or entity upon your death, bypassing probate—a legal process that can be time-consuming and costly.

Without a beneficiary, your assets become part of your estate and must go through probate, which can result in significant delays and expenses for your loved ones.

Setting up beneficiaries makes the transfer simpler, faster, and aligned with your wishes.

How to Add a Beneficiary in Your Webull IRA in 2025

Webull’s interface has been updated in 2025. Here’s the current step-by-step process to add or edit beneficiaries:

1. Open the Webull mobile app and log in.
2. Tap your profile icon at the bottom right corner.
3. Select "My Account" from the menu.
4. Tap "Manage My Account."
5. Select "Beneficiary Information."
6. Click "Add Beneficiary."
7. Enter the required information such as name, relationship, date of birth, social security number (or tax ID), address, and phone number.
8. You can add multiple beneficiaries — up to six, including both primary and contingent beneficiaries.
9. Assign a percentage of shares to each beneficiary to specify how the assets will be divided.
10. Review and submit your beneficiary designation.

If you need help, you can always contact Webull’s support via the app chat, phone, or email at [email protected] for estate-related questions.

Managing and Editing Beneficiaries

You can update or remove beneficiaries anytime by returning to the "Beneficiary Information" section within the Webull app and making necessary changes.

Remember to keep beneficiary information current to reflect your latest wishes.

What Happens Without a Beneficiary?

If you do not designate a beneficiary for your Webull IRA, your account assets will be subject to the probate process, which is a court-supervised procedure to distribute your assets. This process may:

• Cause delays in transferring assets to your heirs
• Incur legal and administrative costs
• Limit your loved ones’ access to funds during probate

For individual brokerage accounts without beneficiary options, the same probate process applies upon your death.

Can I Name Charities or Custodial Accounts as Beneficiaries?

Yes, Webull allows naming charitable organizations or custodial accounts as beneficiaries on IRA accounts, provided you have the necessary identifying information for these entities during setup.

Account Restrictions and Important Notes

Please be aware that beneficiary designations currently apply only to Webull IRA accounts. Individual taxable brokerage accounts at Webull do not support beneficiary designation and will be handled through estate processes upon the account owner’s death.

Additionally, some states’ laws may affect how beneficiary designations and probate procedures work, so it’s advisable to consult a financial advisor or estate attorney if you have questions.

Final Thoughts

In summary, naming beneficiaries for your Webull IRA in 2025 is a critical step for effective financial and estate planning. It ensures your assets are distributed promptly, according to your wishes, and avoids unnecessary delays and expenses for your loved ones.

If you have any questions or need additional assistance, you can visit Webull’s Help Center or contact customer support directly through the app or email at [email protected].