Japanese government coffers have received a record 129.1 billion yen from the assets of deceased people without heirs in fiscal 2024. That’s about 828 million dollars.
The amount is the highest since fiscal 2013, when comparable data became available, NHK has learned from Supreme Court sources. The amount is 3.8 times the 2013 figure of 33.6 billion yen, or about 215 million dollars.
Such assets go to the state after a liquidator appointed by the family court clears unpaid taxes, funeral fees and other expenses.
If there are no heirs, such as a spouse, children, parents or siblings, or no will, no one in principle can inherit the property according to law.
A key factor behind the rising amount of unclaimed property is the increasing number of elderly living alone. This is due to the declining birthrate, coupled with the aging society and greater percentage of people who remain single.
Lawyer Yoshida Shuhei, deputy head of the Japanese Inheritance Association, says even when a deceased person has heirs, some older ones opt to waive the inheritance, saying it would be too much trouble to deal with.
He says the number of elderly with no relatives is expected to continue rising, and one option would be to donate assets to caregivers or charitable organizations.
He advises people to start considering what to do with their property at an early stage because a will is needed to donate properties after death.