If your will designates a primary or contingent beneficiary, that person or entity is a beneficiary of your will. The asset given to the beneficiary will still need to go through probate, but it will go to the beneficiary rather than being part of your general estate and being subject to division among your other heirs.Many types of assets also allow you to designate a beneficiary who will receive the asset when you die. These include life insurance policies, bank accounts, IRA and 401(k) accounts, securities brokerage accounts, college savings plans, health savings accounts, and trusts. In some states, a beneficiary may also be designated for motor vehicles and real estate. If a beneficiary is designated for one of these assets, that asset will not need to go through probate.A primary beneficiary is a person you designate to receive an asset upon your death.A contingent beneficiary is a person or entity (such as a charity) that you designate to receive an asset upon your death if the primary beneficiary has died before you. A contingent beneficiary can also come into play if the primary beneficiary can't be located or refuses to accept the asset.A primary beneficiary for one asset can be designated as a contingent beneficiary for a different asset. However, there would be no point in designating someone as both primary and contingent beneficiary for the same asset.