Gene Hackman’s slow and tragic death may have a major impact on his fortune

Gene Hackman accumulated a remarkable fortune of $80 million during his illustrious career in Hollywood. However, following his unfortunate passing, questions arise regarding the distribution of his considerable wealth.

The week-long interval between the deaths of the Oscar-winning actor and his wife, Betsy Arakawa, may significantly impact the situation, as reported by the Daily Mail.

The circumstances of their deaths could be pivotal. Gene Hackman and his wife, pianist Betsy Arakawa, were discovered deceased in their Santa Fe, New Mexico residence in late February after a person identifying as a caretaker contacted emergency services.

Subsequent reports indicated that Betsy Arakawa succumbed to a rare virus transmitted by rodents on February 11. In contrast, Gene Hackman, who had been suffering from Alzheimer’s disease, likely passed away from heart disease on February 18.

Betsy was found in a bathroom next to one of their three dogs, which was also found deceased in its crate. In a statement to People Magazine, Hackman’s daughters, Elizabeth and Leslie, along with granddaughter Annie, expressed their profound sorrow over the loss.

The circumstances surrounding the couple’s deaths have remained enigmatic since the initial reports, but authorities are diligently investigating to uncover the facts. Various theories have emerged in the media, and Leslie, the actor’s daughter, informed the Daily Mail that there were “no signs of any issues” with her father prior to his death.

“Despite his age, he was in excellent physical condition,” Leslie remarked, noting that her father had not undergone any significant surgeries in recent months. “He enjoyed Pilates and yoga, continuing to practice several times a week. Therefore, he was in good health.” Nonetheless, Leslie and her family acknowledged that his passing was not “terribly shocking” given his age. She mentioned that she had not seen him for a “few months” due to her residence in California. Although they shared a close bond, they had not communicated for some time.Understanding the circumstances surrounding the deaths of Gene and Betsy is essential, not only for providing their families with clarity but also for legal considerations. The outcomes of these investigations could significantly influence the allocation of their $80 million estate, which includes their $3.8 million residence in Santa Fe.

Key Details
The distribution of the estate may directly affect Hackman’s children from his previous marriage to Faye Maltese—Christopher, Elizabeth, and Leslie. In contrast, Arakawa, a pianist from Hawaii, did not have any children.

Hackman’s illustrious film career contributed to his considerable wealth. By 2024, his net worth was estimated at $80 million, as reported by Celebrity Net Worth. One of his most lucrative roles was in the 1978 film Superman, where he starred alongside Christopher Reeve, earning a substantial $2 million for his performance.

The timing of their deaths is significant, as New Mexico law stipulates that if two individuals die within 120 hours of one another, their deaths are regarded as “simultaneous.” This legal definition could further affect the distribution of Hackman’s estate, according to reports from Daily Mail.

Gene and Betsy relocated to Santa Fe in the late 1980s, captivated by the area’s “magic.” Hackman expressed in a 1990 interview with Architectural Digest, “It’s totally different from my other houses. The Montecito house was very formal.” Their property, which encompasses 12 acres, is currently valued at approximately $3.8 million.

The division of Gene Hackman and Betsy Arakawa’s estates may be influenced by several critical details that have come to light since their deaths. Investigators determined that Hackman lived for seven days following Arakawa’s death, indicating that he likely did not meet the “simultaneous death” criteria under New Mexico law. However, experts suggest that the manner in which their estates are divided could still be impacted.

Kevin Holmes, an attorney at Holmes Law Firm, informed Daily Mail that most states, including New Mexico, have a “presumptive triggering deadline” of five days, meaning if a person passes away within that timeframe…Another element that may introduce complexity is the distribution of assets. Typically, married individuals designate their entire estate to one another; however, the specifics of Hackman and Arakawa’s beneficiary designations remain undisclosed due to the private nature of estate plans. While it is common for individuals to name their spouses and children as beneficiaries, they may also include other relatives, caregivers, or charitable organizations.

“It’s your money,” states attorney John Budagher. “You have the freedom to allocate it to anyone you choose, even a donkey sanctuary in Connecticut.”

Additionally, the timing of any recent modifications to Hackman’s will or legal documents could further complicate matters. Given his struggle with Alzheimer’s, any alterations made shortly before his passing may be subject to scrutiny. There are also several uncertainties that could influence the division of Hackman and Arakawa’s estates. For example, it remains unclear whether the couple had any prenuptial or postnuptial agreements, or if any children or other potential heirs might contest the estate.

While some developments are anticipated in the near future, the overall process may extend over a considerable period. In New Mexico, family members and other interested parties have a window of up to three years following an individual’s death to initiate a probate case, suggesting that the final resolution could take significantly longer than expected.

As more information becomes available, the future of Hackman and Arakawa’s $80 million estate may become increasingly intricate.