Ken Lay's will was filed yesterday, and it says his wife, Linda, gets everything. Though the document, which was signed Aug. 8, 2003, doesn't give any specifics about assets, it is clear on whose they now are — which should make probating the will simple if no one contests it.
"Assuming the will is properly drafted, there's no need for witnesses to even prove it up," [Joellen Snow, a Houston estate attorney with Snow & Whitworth] said. "Usually the attorney offers testimony or the appointed executor. It should be a simple five-minute hearing."
If anyone were to contest the will, Snow told the Chronicle, it would likely be one of his two children from his first wife, Judith Ayers: Elizabeth Ayers Lay Vittore, a lawyer, and Mark Kenneth Lay, vice president of the Lay family charitable foundation. There's no indication that either will challenge the will.
The real question is exactly what part of Ken Lay's assets remain today: Earlier this year, The New York Times reported Lay was worth less than $650,000, and during his trial Lay testified that he was $250,000 in the hole. But then we learned about a $6.3 million investment that became available to Lay shortly before he died; it's not clear how many other such investments might be out there. Let's just say it's a safe bet Linda Lay won't end up poor.
