"So what's the problem?"
"I'll get to that in a moment, but I need to back up a bit first. Bader and his wife, Rona, had four boys like a series of stepping-stones, all of them two years apart. Donovan, Guy, Bennet, and Jack. Donovan's currently in his mid-forties and Jack's probably thirty-nine. Donovan's the best of the lot; typical first child, steady, responsible, the big achiever in the bunch. His wife, Christie, and I were college roommates, which is how I got involved in the first place. The second son, Guy, turned, out to be the clunker among the boys. The other two are okay. Nothing to write home about, at least from what Christie's said."
"Do they work for the company?"
"No, but Donovan pays all of their bills nonetheless. Bennet fancies himself an 'entrepreneur,' which is to say he loses great whacks of money annually in bad business deals. He's currently venturing into the restaurant business. He and a couple of partners are opening a place down on Granita. Talk about a way to lose money. The man has to be nuts. Jack's busy playing golf. I gather he's got sufficient talent to hit the pro circuit, but probably not enough to earn a living at it.
"At any rate, back in the sixties, Guy was the one who smoked dope and raised hell. He thought his father was a materialistic, capitalistic son of a bitch and told him so every chance he could. I guess Guy got caught in some pretty bad scrapes-we're talking criminal behavior-and Bader finally cut him off. According to Donovan, his father gave Guy a lump sum, ten grand in cash, his portion of the then-modest family fortune. Bader told the kid to hit the road and not come back. Guy Malek disappeared and he hasn't been seen since. This was March 1968. He was twenty-six then, which would make him forty-three now. I guess no one really cared much when he left. It was probably a relief after what he'd put the family through. Rona had died two months before, in January that same year, and Bader went to his attorney with the intention of rewriting his will. You know how that goes: 'The reason I have made no provision for my son Guy in this will is not due to any lack of love or affection on my part, but simply because I have provided for him during my lifetime and feel that those provisions are more than adequate blah, blah, blah.' The truth was, Guy had cost him plenty and he was sick of it.
"So. Fade out, fade in. In 1981, Bader's attorney died of a heart attack and all of his legal files were returned to him."
I interrupted. "Excuse me. Is that common practice? I'd assume all the files would be kept by the attorney's estate."
"Depends on the attorney. Maybe Bader insisted. I'm not really sure. I gather he was a force to be reckoned with. He was already ill by then with the cancer that finally claimed him. He'd also suffered a debilitating stroke brought on by all the chemo. Sick as he was, he probably didn't want to go through the hassle of finding a new attorney. Apparently, from his perspective, his affairs were in order and what he did with his money was nobody else's business."
I said, "Oh, boy." I didn't know what was coming, but it didn't sound good.
" 'Oh, boy' is right. When Bader died two weeks ago,
Donovan went through his papers. The only will he found was the one Bader and Rona signed back in 1965."
"What happened to the later will?"
"Nobody knows. Maybe the attorney drew it up and Bader took it home for review. He might have changed his mind. Or maybe he signed the will as written and decided to destroy it later. The fact is, it's gone."
"So he died intestate?"
"No, no. We still have the earlier will-the one drawn up in 1965, before Guy was flung into the Outer Darkness. It's properly signed and fully executed, which means that, barring an objection, Guy Malek is a devisee, entitled to a quarter of his father's estate."
"Will Donovan object?"
"He's not the one I'm concerned about. The 1965 will gives him voting control of the family business so he winds up sitting in the catbird seat regardless. Bennet's the one making noises about filing an objection, but he really has no proof the later will exists. This could all be for naught in any case. If Guy Malek was hit by a truck or died of an overdose years ago, then there's no problem-as long as he doesn't have any kids of his own."
"Gets complicated," I said. "How much money are we talking about?"
"We're still working on that. The estate is currently assessed at about forty million bucks. The government's entitled to a big chunk, of course. The estate tax rate is fifty to fifty-five percent. Fortunately, thanks to Bader, the company has very little debt, so Donovan will have some ability to borrow. Also, the estate can defer payment of estate taxes under Internal Revenue Service code section 6166, since Malek Construction, as a closely held company, represents more than thirty-five percent of the adjusted gross estate. We'll probably look for appraisers who'll come up with a low value and then hope the IRS doesn't argue too hard for a higher value on audit. To answer your question, the boys will probably take home five million bucks apiece. Guy's a very lucky fellow."