Why are assets that avoid probate generally not part of the public record?

Assets that bypass probate are generally not part of the public record because they transfer directly to beneficiaries or co-owners outside of the court-supervised process.1

Because probate is a legal proceeding conducted under court supervision, the documents filed—such as the will, asset inventories, and accountings—typically become public records. In contrast, assets that avoid probate do not require court intervention to transfer ownership. Examples of such assets include:1

• Jointly owned property with rights of survivorship.1
• Life insurance policies with designated beneficiaries.1
• Retirement accounts (such as IRAs) with named beneficiaries.1
• Payable-on-death (POD) and transfer-on-death (TOD) accounts.1
• Assets held in a trust.1

By bypassing the court, these assets remain private, as they are not subject to the public filings and oversight inherent in the formal probate process.1