Eoghan Murphy (Dublin South East, Fine Gael)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance his role in the management of a deceased person's assets and finances when the deceased has not left a will and there are no living dependents. [37032/12]

Eoghan Murphy (Dublin South East, Fine Gael)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance the estimated value of assets formerly belonging to persons who are now deceased and who did not leave any indication of any beneficiary nor any living relative. [37035/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 205 and 208 together.

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.

Under Section 73 of the Succession Act, 1965, the Minister for Finance has power to waive the State's interest in escheated estates. Every application for waiver is referred to the Office of the Chief State Solicitor for consideration. The CSSO, in consultation with the Attorney General's Office, as appropriate, deals with the legal issues involved. The Minister for Finance makes his decision on an application for waiver following consideration of the advice of the Attorney General.

Under Section 36 of the State Property Act, 1954, as amended by Section 28 of the Dormant Accounts Act, 2001, the Minister for Finance may transfer monies from the Intestate Estates Fund Deposit Account into the Dormant Accounts Fund which proceeds are used for charitable purposes. A sum of €4.4m was transferred from the Intestate Estates Fund Deposit Account to the Dormant Accounts Fund in 2007. The balance currently in the Intestate Estates Fund Deposit Account is €2.16m.