Beneficiary Designation Worksheet Calculator
Split an account among multiple beneficiaries, verify the percentages total exactly 100%, and see each person's dollar share. Educational, not legal advice. Runs in your browser.
Beneficiary shares on retirement accounts and life insurance must total exactly 100%, or the custodian may reject the form or default to its own rules. Watch the edge cases: name contingent (backup) beneficiaries in case a primary predeceases you; decide per stirpes (a deceased beneficiary’s share passes to their descendants) vs per capita (it is split among survivors); and remember these designations override your will. Not financial or legal advice — consult a professional. Everything runs in your browser.
About this tool
Beneficiary designations on retirement accounts, life insurance, and similar assets are one of the most consequential — and most overlooked — parts of estate planning, because they pass assets directly to the named people and override whatever your will says. This worksheet helps with the mechanical part that trips people up: dividing an account among multiple beneficiaries so the percentages add up to exactly 100%. Custodians and insurers require the shares to total 100; a form that totals 99% or 101% can be rejected, delayed, or resolved by the institution's own default rules rather than your intent. Enter the account value and each beneficiary's percentage, and the tool shows the running total with a clear pass/fail, a one-click normalize to scale shares to 100%, and the dollar amount each person would receive. Beyond the arithmetic, the tool flags the edge cases that matter in practice: naming contingent (backup) beneficiaries who inherit if a primary beneficiary dies before you; choosing between per stirpes (a deceased beneficiary's share flows down to their children) and per capita (it is redistributed among the surviving beneficiaries); keeping designations current after marriages, divorces, and births; and avoiding naming a minor or your estate directly, which can force assets through probate or create complications. Because these designations bypass your will and are governed by state law and each custodian's forms, the dollar split here is only the starting point. This is educational and not legal or financial advice — confirm your designations with the account custodian and consult an estate attorney. Everything runs in your browser; nothing is uploaded.
How to use it
- Enter the total account or policy value.
- Add each beneficiary and their percentage share.
- Watch the running total — it must equal exactly 100%.
- Use 'Normalize to 100%' to scale shares proportionally if they don't add up.
- Review each beneficiary's dollar amount and consider contingent beneficiaries and per stirpes vs per capita.
Frequently asked questions
- Why must beneficiary percentages total 100%?
- Custodians and insurers require the shares to sum to exactly 100%. A form that totals more or less can be rejected or resolved by the institution's default rules instead of your wishes, so the worksheet flags any total that is off.
- Do beneficiary designations override my will?
- Yes. Assets with a named beneficiary — retirement accounts, life insurance, payable-on-death accounts — pass directly to those beneficiaries regardless of what your will says. Keeping them current is essential.
- What is the difference between per stirpes and per capita?
- Per stirpes means a deceased beneficiary's share passes to their descendants (e.g., their children). Per capita means it is redistributed among the surviving named beneficiaries. The choice changes who inherits if someone predeceases you.
- What is a contingent beneficiary?
- A backup who inherits only if all primary beneficiaries have died. Naming contingents prevents the asset from defaulting to your estate (and probate) if a primary beneficiary predeceases you.
- Should I name a minor as a beneficiary?
- Generally not directly — minors cannot legally control assets, which can force court involvement or a guardian. Options include a custodial account (UTMA) or a trust. Consult an estate attorney for the right structure.
- Is this legal advice?
- No. It is an educational worksheet for the percentage math. Designations are governed by state law and custodian forms — confirm with your custodian and an estate attorney. Nothing is uploaded.