Gene Hackman's Estate: A Wake-Up Call

The recent passing of legendary actor Gene Hackman has revealed a complicated estate situation that serves as a powerful warning for everyone - married couples especially - regardless of your net worth. 

Whether you have significant assets or just want to ensure your wishes are honored and you don’t leave a mess behind, getting your estate plan done right is the answer. Unfortunately, many estate plans, even plans prepared by lawyers, are incomplete or outdated. The right estate planning process can save your loved ones from the cost of failed or incomplete planning. In this article, we will look at the lessons from the Hackman family and the importance of having a well-structured plan, the risks of outdated documents, and key strategies to prevent inheritance disputes.

Let's first explore what’s happened.

What Happened

Gene Hackman, the two-time Academy Award winner known for films like The French Connection and Unforgiven, and his wife Betsy Arakawa were recently found deceased in their Santa Fe, New Mexico home. Court documents reportedly reveal that Arakawa, 65, died on February 11 from Hantavirus pulmonary syndrome, a rare disease contracted through contact with mouse droppings. Hackman, who was 95, died a week later from natural causes related to heart disease and complications from Alzheimer's disease.

The couple's wills, both dated from 2005, show they each intended to leave their estates to one another. Hackman's will named Arakawa as the personal representative of his estate and the recipient of his "entire estate" as successor trustee of the Gene Hackman Living Trust. Similarly, Arakawa's will specified that her estate would go to the trustee of Hackman's trust if he outlived her.

Unlike some couples who leave their assets to each other and don’t have a plan for what happens if they die together or close together, the Hackmans had contingency plans in place. Since both Hackman and Arakawa are deceased, Julia L. Peters, who was named as the second successor personal representative in Hackman's will, has taken over the duties of managing both estates. The first successor named in the wills, attorney Michael G. Sutin, is also deceased.

Court documents show that Peters, who works for a trust company, was appointed as the personal representative for both estates in March 2025. Peters filed appropriate paperwork to admit Hackman's will to probate and begin the administration process.

The Simultaneous Death Problem 

Married couples sometimes do exactly what Hackman and Arakawa did—they name each other as the primary beneficiary on everything: wills, trusts, life insurance policies, retirement accounts, and more. But if you and your spouse die together or a short time apart, your estate might go to unintended beneficiaries. The best practice is to name backups or contingent beneficiaries so that your plan works as you intend.

Arakawa considered this possibility in her own estate planning. Reports indicate her will contained a provision that if she and Hackman died within 90 days of each other, her assets would go to a charitable trust, as she had no children of her own. 

Blended Family Considerations

If you have a blended family, things can get complicated. With Arakawa and Hackman dying within days of each other, it may be difficult to sort out who the beneficiaries are. His plan says she receives his assets, and her plan says he receives her assets. This creates a loop that needs to be sorted out. If Arakawa’s assets go to a charitable trust instead of to Hackman’s estate, Hackman’s kids may receive nothing from her estate. 

Hackman's will acknowledges his three adult children from his previous marriage to Faye Maltese: Christopher Hackman, Elizabeth Hackman, and Leslie Allen. Court records show that notices regarding Peters's appointment as personal representative were sent to all three children in March 2025. 

While the publicly available documents don't reveal how Hackman's assets will ultimately be distributed among beneficiaries, Peters noted in court filings that after specific bequests to "identified beneficiaries," the remainder of Hackman's trust will be "distributed in accordance with the desires of Gene Hackman as expressed in the trust document." The trust documents themselves have not been made public, which is one of many reasons you might want a trust to govern the distribution of your assets.

Estate Planning Strategies

The Hackman case demonstrates several important estate planning principles that anyone, regardless of net worth, can learn from. At Rayboun Winegardner, we can work together to create a plan that is customized to fit your family, assets, and wishes.

Below are a few strategies we often recommend.

1. Name Contingent Beneficiaries for Everything

For every asset and in every document, it is best practice to name primary and contingent beneficiaries. This includes your will, trust, life insurance, retirement accounts, transfer-on-death accounts, and any other assets with beneficiary designations. Creating an inventory of your assets aids in this process by ensuring nothing gets missed and no asset falls through the cracks.

2. Include Simultaneous Death Provisions

If you’re married, provisions in your will and trust can address what happens if you and your spouse die simultaneously or within a short time of each other. The standard "120-hour rule" in many state laws may not be sufficient for your needs. Your document can also address what happens if any beneficiary you’ve named dies before you.

3. Create a Revocable Living Trust

A properly structured revocable living trust can provide more precise instructions for various scenarios and is often more flexible than a will. Trusts also offer privacy, can save money on taxes, and can bypass the probate process.

4. Include Special Provisions for Blended Families

If you have a blended family, estate planning documents can include customized strategies so your children are never accidentally disinherited. 

5. Review and Update Regularly

Hackman's will was reportedly last updated nearly 20 years before his death— which is a long period of time without review.

If you want to ensure your plan works, we recommend your plan is reviewed at least every 3 years and after any major life event such as the death of a beneficiary, marriage, divorce, or birth. Even if you haven’t had a significant life change, your assets may change - you inherit a significant sum, for instance - or the law could change. Any of these scenarios could put your plan at risk of failing to accomplish your original intention.

At Rayboun Winegardner, we will work with you to address updates and reviews of your plan.

Your Next Step

As the Hackman case illustrates, effective estate planning isn't just about creating documents—it's about creating a comprehensive plan that anticipates potential problems, stays updated over time, and protects the people you care about. 

Together, we can create a plan that protects you and your loved ones.

To get started, all you need to do is click here to schedule a complimentary 15-minute consult call:

https://www.flalawfirm.com/

This article is a service of Rayboun and Winegardner, PLLC, a Personal Family Lawyer Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.