In Buddhism we have a teaching or practice of dedicating merit to others. Sometimes people do this at funerals for their deceased loved ones, others do this as part of a Buddhist discipline, and others do this at the end of their particular practice. The mechanics behind this are not entirely explained: it may simply be that you are holding that other person in your thoughts, or maybe the merit really does transfer. Whatever. The point is is that regardless of what actually happens or how it works, it’s a good practice to keep in mind.
Why? Suppose you did something good and noble for someone else, like helping your mom carry groceries. That’s good merit right there, but if you do something humble like dedicating the merit to others, that’s even better because your sharing the good feelings and the joy with others. It lets go of some of the ego you experience when you do something good. 
In another example, suppose you won the lottery. That’s great, and you could spend all that money yourself. However, if you spread the happiness to others (friends, family, strangers in need), then imagine how much better that is.
So, when you do something positive for others, if you take a moment and dedicate the merit to all sentient beings, you’re spreading the joy. A good opportunity for this is in your practice as a Buddhist. If you just finished meditating or reciting some Buddhist sutra, you can put your hands together reverently and say:
May this merit I have accumulated
benefit all sentient beings.
May all beings be well,
and may they all attain perfect peace.
The first line is reminiscent of the 10 Vows of Samantabhadra Bodhisattva, vow #10. Meanwhile the first part of the second line will remind one of the famous Metta Sutta (SN 1.08), and the second part is kind of like the mantra at the end of the Heart Sutra in that it wishes all beings the joy of Enlightenment. At least that’s my opinion on the subject.
Namu Daishi Henjo Kongo
Hello, this blog is about my life as a father, Buddhist and Japanophile / Koreaphile. Any useful information I can pass along will hopefully make the 
I think the dedication of merit is a very beautiful and unique Buddhist practice. It is a constant reminder to us that Buddhism is not a solitary endeavour and that all our sittings, mantras, sutra-chanting or whatever, is for the greater good of all sentient beings.
In Chinese Buddhism, there is a very beautiful “Verse of Transference” that is traditionally recited after any form of Buddhist ritual is conducted. It can also be found printed at the end of Buddhist scriptures or literature.
願以此功德，
莊嚴佛淨土，
上報四重恩，
下濟三途苦；
若有見聞者，
悉發菩提心，
盡此一報身，
同生極樂國。
My attempt at a translation:
May the merit acquired by myself
Adorn the Pure Land of the Buddha.
May the four kinds of gratitude be repaid
And may the three paths of misery be comforted.
May all who come into contact (with this meritorious activity)
Aspire to attain an enlightened mind
After this life has been exhausted
May we all be reborn into that Country of Bliss!
The four kinds of gratitude are: gratitude to parents, to teachers, to our country and to all sentient beings.
Hi Yueheng,
Long time no see.
I hope you are doing well.
Those verses to transfer merit are very lovely. At the local Pure Land temple we used a service called “Ekoku” (dedication) that went like so:
I vow that the merit-virtue of this truth
Be shared equally with all beings.
May we together awaken the Bodhi Mind,
And be born in the realm of Serenity and Joy.
It’s nice and to the point, but I think I like the Chinese version much better. You wouldn’t by chance know where a pin-yin version can be found?
A pinyin version
願以此功德，yuan yi ci gong de
莊嚴佛淨土，zhuang yan fo jing tu
上報四重恩，shang bao shi zhong en
下濟三途苦；xia ji san tu ku
若有見聞者，ruo you jian wen zhe
悉發菩提心，xi fa pu ti xin
盡此一報身，jin ci yi bao shen
同生極樂國。tong sheng ji le guo
Here is the translation of the Chinese version I know of:
May the merits and virtues accrued from this work
adorn the Buddha’s Pure Land,
repay the Four Kindnesses above,
and relieve the sufferings of those
in the Three Paths below.
May those who see or hear of this,
bring forth the heart
of understanding and compassion and,
at the end of this life,
be born together in the Land of Ultimate Bliss.
Yueheng, Michael: Thank you both for your input.
Here is a Soto Zen dedication of merit. I’m just looking into this, so Jeannie, correct me if I’m wrong or if you know a different version.
We pray that this merit
universally pervade all existence
and that we and all sentient beings
achieve this understanding
We pay homage to all Buddhas
of past present and future
the World-Honored One
Great Bodhisattvas
Great Heart of Wisdom