Will Gene Hackman’s Three Adult Children Not Inherit Late Actor’s $80 Million Fortune?

Hollywood legend Gene Hackman and his wife, Betsy Arakawa, were discovered dead in their Santa Fe, New Mexico home in February.

Their sudden passing has sparked legal debates over the distribution of Hackman’s estimated $80 million fortune. Notably, his three adult children are not named as beneficiaries in his will, raising questions about the fate of his estate.

Who Will Inherit Gene Hackman’s Estate?

Despite having a living trust, complications have emerged as all of Hackman’s appointed successor trustees passed away before him.

As a result, District Judge Maria Sanchez-Gagne has temporarily assigned Avalon Trust, LLC as the estate’s trustee. This decision was recommended by estate representative Julia Peters to ensure a smooth legal process.

Legal Expert Weighs in on Trustee Appointment

Estate planning lawyer Laura Cowan described the court’s decision as a necessary move to manage financial obligations, such as tax filings and notifying beneficiaries.

She emphasized that while living trusts typically remain private, court filings in cases of disputes, probate issues, or trustee appointments could reveal certain details about Hackman’s asset distribution.

“In some cases, portions of a trust may become part of court records if they are used as evidence. If assets were not properly transferred into the trust, they could enter probate, making trust-related details publicly available,” Cowan explained in an interview with Daily Mail.

Outdated Will Causes Legal Complications

According to Cowan, one of the biggest issues in Hackman’s estate stems from his failure to update his will. Since the document was written two decades ago, there are concerns over whether it accurately reflects his final wishes. The outdated nature of his estate planning could lead to higher taxes, legal fees, and potential delays.

She also pointed out another key complication: “Gene Hackman and his wife passed away around the same time. Determining who died first is crucial in estate law, as it affects the inheritance process. Given their 30-year age gap, it’s likely they never anticipated dying so closely together, which now presents legal challenges.”

Who Was Supposed to Manage the Trust?

Reports indicate that Hackman had designated his wife, Betsy Arakawa, as the first successor trustee. In the event of her passing, Michael G. Sutin was next in line to manage the trust. However, Sutin died in 2019, and no updates were made to the trust afterward.

Currently, it remains uncertain whether Hackman’s three children from his first marriage—Christopher Allen, Leslie Anne, and Elizabeth Jean—were included in the estate plan. However, sources confirm that Christopher has already hired renowned California attorney Andrew M. Katzenstein to represent his interests.

Discovery of the Bodies and Further Investigation

The couple was found by maintenance workers who noticed them through a window and alerted authorities. Tragically, one of their dogs was also found dead, while two others survived. Investigators are continuing to examine the circumstances surrounding their deaths.

As legal proceedings unfold, more details may emerge regarding the final distribution of Hackman’s vast estate.

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