Major battle over Gene Hackman’s $80M fortune likely as startling details of his will are revealed
SANTA FE, NEW MEXICO: One month after the tragic deaths of Gene Hackman and Betsy Arakawa, details of their wills have surfaced, raising questions about the fate of the late actor’s $80 million estate.
The legendary 'French Connection' star, 95, left his entire fortune to his wife, Betsy, 65, who was named the successor trustee of his trust. However, it remains unclear whether Hackman’s three children - Christopher Allen, 65, Leslie Anne, 58, and Elizabeth Jean, 62 from his previous marriage to Faye Maltese were included in the will.
Gene Hackman’s $80M fortune may spark estate battle after will revelation
“If he had died first and Betsy had survived, it would’ve been World War III. His kids would’ve probably gone crazy,” a legal expert told DailyMail.com.
Betsy’s will directs her assets toward a trust designated for charitable donations and medical debt settlements. Meanwhile, Hackman’s latest will, signed in 2005, raises questions about when he was diagnosed with Alzheimer’s and whether he was fully aware of the decisions he made regarding his estate.
Betsy's will specifies, "If my spouse does not survive me, I give the residue of my estate to my personal representative, as trustee, to hold and administer in a charitable trust to achieve purposes beneficial to the community, consistent with the charitable preferences and interests expressed or indicated by my spouse and me during our lifetimes."
The findings from the New Mexico Office of the Medical Investigator and the Santa Fe Sheriff's Office have shed light on many of the lingering questions surrounding the discovery of the couple’s bodies by a caretaker within their gated community.
These official conclusions could also influence the distribution of the couple’s estate, which includes their $3.8 million Santa Fe home and additional assets reportedly totaling around $80 million, according to celebritynetworth.com.
Before Betsy was named as his successor trustee in 1994, Hackman had an earlier trust, the GeBe Revocable Trust which may have included his children. At some point, he created a new trust, the Avalon Trust, which took over as the primary trustee. Without access to these documents, it’s unclear whether his children were originally designated as beneficiaries before being excluded.
The document outlines that all legally binding debts will be settled as soon as reasonably possible following her passing. Regarding personal possessions such as furniture, jewelry, or artwork, Betsy's will notes that she may leave a separate list detailing their intended distribution.
Hackman’s deep immersion in Hollywood’s glamorous world created strain in his family life. His marriage to Faye ended in divorce, and during his children’s formative years, he was often absent. He later admitted to losing "touch" with his son Christopher, acknowledging that he was away frequently at a time when his son needed guidance and support.
While he appeared to maintain a connection with his daughters, Leslie and Elizabeth who were occasionally seen with him at film premieres and industry events, Hackman recognized that his children faced challenges growing up under the weight of his success.
It was only after Hackman married Betsy in 1991 that he began mending relationships with his children. Arakawa played a key role in encouraging him to reconnect with them and his grandchildren, inviting them to their Santa Fe home.
The insider pointed out that Gene’s son, Chris, choosing to bring in Andrew M Katzenstein, a well-known California trust and estate attorney, has raised some eyebrows. “By bringing Katzenstein , it shows that he (Chris) is definitely trying to protect his interests," they said.
“The fact that Chris got a high-powered lawyer indicates to me something is going on. I don’t know why the girls (daughters) are not represented. That tells me that there must be some trouble brewing," the insider further said.
As for the estate, the source noted that whatever inheritance is distributed will ultimately be overseen by Avalon.
Contractor speaks out about the day he found Gene Hackman and Betsy Arakawa dead
New details emerged about the shocking deaths of legendary actor Gene Hackman, 95, and his wife, Betsy Arakawa, 65. Their longtime contractor, Jesse Kesler, is finally speaking out, calling the moment he discovered their bodies "the worst day of my life".
Kesler, 52, had worked with the couple for 16 years, handling everything from home renovations to routine maintenance. He had always maintained a close working relationship with them but on February 26, his routine check-in took a devastating turn.
"I wish I'd gone in quicker. I might have been able to save Gene or the dog," Kesler told reporters.
"It was awful. It was one of the worst days of my life, and I've had some bad days. To see someone like that," he further said, per New York Post.
