Updated October 8, 2026. Quick answer: Yes, for securities. Pennsylvania’s Transfer on Death Security Registration chapter, 20 Pa.C.S. Chapter 64, says a transfer on death registration “is effective by reason of the contract regarding the registration” and is not testamentary.
How Pennsylvania handles transfer-on-death registration
| Item | What the state documents say |
|---|---|
| Brokerage and securities accounts | Chapter 64 of Title 20 of the Pennsylvania Consolidated Statutes, sections 6401 to 6413, governs registering a security in beneficiary form. Section 6402 allows it only where the registration shows sole ownership by one individual, or ownership by two or more with right of survivorship, and the definition of security includes a securities account with a broker. The source says: “Registration in beneficiary form.” |
| Effect on the will and probate | Section 6407 passes ownership to the surviving beneficiary, and section 6409 states that the transfer works through the owner’s contract with the registering entity and is not testamentary. The source says: “ownership of securities registered in beneficiary form passes to the beneficiary”. If no beneficiary survives, the security belongs to the owner’s estate. |
| Changing the beneficiary | Section 6406 says the designation has no effect on ownership until the owner’s death, and that the sole owner or all surviving owners may cancel or change it at any time. The source says: “without the consent of the beneficiary”. |
| Vehicle titles | The PennDOT fact sheet on vehicle transfer after the death of an owner describes joint owners with right of survivorship and tenants in common, and the steps for each. The fact sheet cited here does not describe naming a transfer on death beneficiary on a vehicle title, and PennDOT is the place to confirm whether one is available. For tenants in common or a sole owner, the fact sheet routes the title through the executor or administrator. |
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 transfer on death deeds by state. For what probate costs in Pennsylvania, see Pennsylvania probate cost, and for Pennsylvania’s own estate or inheritance tax, see Pennsylvania estate and inheritance tax. Which of these your account or vehicle falls under depends on how it is titled.
Related: Pennsylvania probate cost, how Pennsylvania taxes retirement income, Pennsylvania estate and inheritance tax, transfer on death deeds by state, car titles after a death, by state, and transfer-on-death registration by state.
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- Title 20 Pa.C.S. Chapter 64, Transfer on Death Security Registration (Pennsylvania General Assembly): www.palegis.us
- Fact Sheet: Vehicle Transfer after Death of Owner (PennDOT): https://www.pa.gov/content/dam/copapwp-pagov/en/penndot/documents/public/dvspubsforms/bmv/bmv-fact-sheets/fs-vehtrans.pdf
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.