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€2.5 million inheritance cash goes unclaimed 22.09.15

THOUSANDS of euro left by Irish people who died without making a will lies unclaimed in a special deposit account held by the Government.
Figures from the Department of Public Expenditure and Reform show that almost 2.5 million euro is currently held in the Intestate Estates Fund.
The cash is the proceeds from the estates of people who passed away with no known next-of-kin and for whom no relatives ever came forward to make a claim.
The Intestate Estates Fund was set up under The Succession Act 1965.
Cash accumulations from it are from time-to-time transferred to the Dormant Accounts Fund for distribution to charitable causes. A sum of 4.4 million euro in intestate monies was transferred to the Dormant Accounts Fund in 2007.
A Department of Public Expenditure and Reform spokesperson said when a person’s estate falls to the State, it is administered by the Chief State Solicitor under the direction of the Attorney General.
Newspaper advertisements may be published in a bid to locate eligible relatives.
When it is established that there are no known next-of-kin, the proceeds of the estate are then paid into the Intestate Estates Fund deposit account.
"Where next-of-kin come forward, the grant in favour of the State can be revoked, if obtained, or if not obtained, the Chief State Solicitor’s Office will withdraw from the proceedings in favour of the next-of-kin,” said the spokesperson.
A total of just over 2,442,177 euro is currently held in the Intestate Estates Fund, the department said.
Meanwhile, hundreds of Irish-born emigrants, who died intestate in England and Wales feature on a list of some 15,000 unclaimed estates published by the British Treasury.
The list features the late estates of many widowed or unmarried Irish people who had no children. It is updated daily and features new and historical cases. Many of the estates are worth little but others include bank savings, life insurance policies and property valued at tens of thousands of euro.
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