Dáil Éireann Debate, Tuesday - 22 January 2013
209. Deputy Kevin Humphreys asked the Minister for Finance if he will provide in tabular form the amount escheated to the Intestate Estates Fund Deposit Account on an annual basis since 2006, and alongside for each year if he will outline the number of estates transferred and the value of disbursements made from it on an annual basis and if he will clarify what happens to non-liquid assets; and if he will make a statement on the matter. [2296/13]
View answerThe following is the information requested by the Deputy.
|
Year |
Payments in |
Number of Estates |
Payments out |
|
2006 |
€572,804.39 |
163 |
€40,526.58 |
|
2007 |
€222,713.99 |
8 |
€4,437,593.25* |
|
2008 |
€533,193.46 |
493 (est)** |
€89,274.86 |
|
2009 |
€371,286.90 |
187 |
€294,316.05 |
|
2010 |
€213,082.76 |
153 |
€87,340.57 |
|
2011 |
€227,507.10 |
149 |
€67,889.74 |
|
2012 |
€623,149.86 |
255 |
€103,715.45 |
* This includes €4.4m transferred to the Dormant Accounts fund under Section 36 of the State Property Act, 1954 as amended by Section 28 of the Dormant Accounts Act, 2001.
** The lodgment for 2008 includes an amount of €30,224.68 in respect of which the number of deceased persons is not available.
Section 73 of the Succession Act 1965 provides that where a person dies intestate and without known next-of-kin the estate of that person shall be taken by the State as ultimate intestate successor.
Where an estate falls to the State under Section 73 it is administered by the Chief State Solicitor under the direction of the Attorney General. Depending on the extent and nature of the estate this process may involve the extraction of letters of administration from the High Court and advertising for next-of-kin. When it is established that there are no known next-of-kin the proceeds of the estate are paid into the Intestate Estates Fund Deposit Account.
The Deputy also asks what happens to non-liquid assets. Once it is established that there are no known next of kin who might be entitled to inherit an estate, non-liquid assets are sold, where this is possible, and the proceeds are paid into the intestate estates fund.
The amount outstanding in the Intestate Estates Fund Deposit Account as at 31 December 2012 was €2.56m.
