Updated October 8, 2026. Quick answer: Yes, for securities and vehicles. Virginia lets an individual register securities in beneficiary form under the Uniform Transfers on Death (TOD) Security Registration Act, and “without the consent of the beneficiary”. The Department of Motor Vehicles separately offers a beneficiary on a vehicle title.
How Virginia handles transfer-on-death registration
| Item | What the state documents say |
|---|---|
| Brokerage and securities accounts | Virginia’s Uniform Transfers on Death (TOD) Security Registration Act is Article 3 of Chapter 6 of Title 64.2 of the Code of Virginia, sections 64.2-612 through 64.2-619. It covers securities and security accounts, including a securities account with a broker, and allows only individuals with sole ownership or survivorship ownership to register in beneficiary form. A brokerage or other registering entity is not required to offer the registration, so the firm’s own terms decide whether an account can carry a TOD designation. |
| Effect on the will and probate | The statute provides that a transfer on death resulting from a registration in beneficiary form takes effect through the contract between the owner and the registering entity and the Act, and ownership passes to the surviving beneficiaries on the death of the last owner. The source says: “and this article, and is not testamentary.” The statute leaves creditors’ rights against beneficiaries under other Virginia laws in place. |
| Changing the beneficiary | The designation has no effect on ownership until the owner’s death, and the sole owner or all surviving owners may cancel or change it at any time. Because the beneficiary holds no present ownership, the owner can update the registration without involving the beneficiary. |
| Vehicle titles | Virginia allows a beneficiary to be designated on a motor vehicle, trailer, or semitrailer title under section 46.2-633.2 of the Code of Virginia, and the Department of Motor Vehicles publishes the process. The title lists the owners, then transfer on death or TOD, then the beneficiary. The source says: “may designate a beneficiary to receive ownership of the vehicle”. The change is made on the Beneficiary Transaction Request, form VSA 18, signed by all owners. |
| Vehicle conditions | The beneficiary must be an individual and not a business entity, and the owners must be natural persons. After the owner’s death the beneficiary must apply for a certificate of title within 120 days or loses the right to title the vehicle under this section. The source says: “A beneficiary cannot be designated if a lien exists for the vehicle.” A designation is also removed if the vehicle is sold or a lien is added, and the transfer is not testamentary under the statute. |
A $250,000 brokerage account split
An owner holds a brokerage account worth $250,000 and registers it in beneficiary form to two named beneficiaries, with each to receive half. Each share is computed as $250,000 x 50% = $125,000. The 50/50 split is the owner’s illustration, not a rule of the state: the owner names the beneficiaries and, where the form allows it, the shares.
Real estate, probate and estate tax
A transfer on death deed is a different instrument for real property: see Virginia transfer on death deed. For what probate costs in Virginia, see Virginia probate cost, and for Virginia’s own estate or inheritance tax, see Virginia estate and inheritance tax. Which of these your account or vehicle falls under depends on how it is titled.
Related: Virginia probate cost, how Virginia taxes retirement income, Virginia estate and inheritance tax, Virginia transfer on death deed, car titles after a death, by state, and transfer-on-death registration by state.
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Answer againSources
- Uniform Transfers on Death (TOD) Security Registration Act, Code of Virginia Title 64.2, Chapter 6, Article 3: https://law.lis.virginia.gov/vacodefull/title64.2/chapter6/article3/
- Designate a Beneficiary on a Vehicle Title: https://www.dmv.virginia.gov/vehicles/title/designative-beneficiary
- Code of Virginia section 46.2-633.2, Transfer of title on death: https://law.lis.virginia.gov/vacode/title46.2/chapter6/section46.2-633.2/
Sources: the primary documents linked above, read on October 8, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer, the plan administrator or the agency itself is the right place to confirm anything consequential.